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Sony Hiring For Mergers & Acquisitions Director

3liteDragon

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Sony Interactive Entertainment has posted a job listing for a Mergers & Acquisition Director for its PlayStation business, fuelling speculation that the company is on the look out to bring more studios under its umbrella.

Could Bluepoint Games be the next candidate? It’s certainly possible.

Here’s a role description post on Sony’s LinkedIn job listing:

The Global People Operations team strives help ensure efficient and simple people processes, systems, policies, and programs. We deliver data that is useful and accurate to build People-related strategies across the business. We build project management capability across our function. This individual will work as a closely with the Corporate Development and Finance Teams (Mergers & Acquisitions), HR Business Partners, Employment Law Team, and cross-functional HR teams to lead a wide variety of operational projects, processes, systems, and cases as a part of the People integration process.

The ideal candidate is highly motivated with a positive demeanor, and exhibits patience, teamwork, critical thinking, and problem solving.
Earlier this year, rumors started swirling that Bluepoint Games would be acquired by Sony, with one source claiming it’s ‘just a matter of when’ and not ‘if’ the format holder acquires the studio.

[Source –
LinkedIn]
 

kretos

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TKOFromTokyo

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Stop making things up.

I’m not. Go read their SEC filings. That isn’t their cash balance and the marketable securities are in Sony Financial Services and are not part of the normal Sony cash management process and the funds are limited and are not passed into the normal core Sony businesses. I’ve read the actual filings. You should too.
 

Quasicat

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I should apply for this and then buy Square-Enix. It’s not like Sony needs them, but this way I can call my one friend that still swears up and down that them and Nintendo will work exclusively and let him know that it’s officially never going to happen.

I do have to admire him though; he has been carrying that torch since Final Fantasy VII came out on the PS1.
 

TKOFromTokyo

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I should apply for this and then buy Square-Enix. It’s not like Sony needs them, but this way I can call my one friend that still swears up and down that them and Nintendo will work exclusively and let him know that it’s officially never going to happen.

I do have to admire him though; he has been carrying that torch since Final Fantasy VII came out on the PS1.

Do you share friends with Clarissa?
 

bitbydeath

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And the purchase was in August/September of 2019. That’s closer to a year than a few months. Hence, the phrase like a year.
Yeah, August 2019.
One-two months to hire, it’s already February 2019.
The position likely isn’t just paperwork that takes a day to complete. 6 months contract hire is in the realm of possibility though.
 

TKOFromTokyo

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Yeah, August 2019.
One-two months to hire, it’s already February 2019.
The position likely isn’t just paperwork that takes a day to complete. 6 months contract hire is in the realm of possibility though.

You’re moving the goalposts from your initial statement, but that timeline is reasonable. It’s also reasonable that it was coincidental. I’ve worked for a few billion revenue companies and we often don’t hire short term contracts for these roles, especially considering the sensitivity to the confidential nature of deals.
 

bitbydeath

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You’re moving the goalposts from your initial statement, but that timeline is reasonable. It’s also reasonable that it was coincidental. I’ve worked for a few billion revenue companies and we often don’t hire short term contracts for these roles, especially considering the sensitivity to the confidential nature of deals.
I’m just saying it was possibly related since that event occurred soon after. No idea, if it was related.
 

TKOFromTokyo

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I’m just saying it was possibly related since that event occurred soon after. No idea, if it was related.

It’s possible, but really, deals are usually held close to the vest. Even within an organization, confidentiality is huge. I work in SEC reporting, so I have a good idea.
 
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Tutomos

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I’m not. Go read their SEC filings. That isn’t their cash balance and the marketable securities are in Sony Financial Services and are not part of the normal Sony cash management process and the funds are limited and are not passed into the normal core Sony businesses. I’ve read the actual filings. You should too.
They can convert those short-term investments they have into cash, and use that $40bn plus on whatever they like. The point is, they got enough to buy some devs.
 

TKOFromTokyo

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They can convert those short-term investments they have into cash, and use that $40bn plus on whatever they like. The point is, they got enough to buy some devs.

That’s not true. Read their SEC filings, they specifically talk about the special nature of those securities.
 
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Spidey Fan

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Can they buy a studio to make these possible again?


I dont want something like this to happen again. There are some great games i am still waiting for sony to do it. That would have been a good killer ps5 game.

Here are the games, that i want sony to do it.

siren blood curse, Twisted metal, resistance 4, heavenly sword, Syphon Filter and sly cooper.

Hope they dont let those ip dormant.
 

TKOFromTokyo

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They can convert those short-term investments they have into cash, and use that $40bn plus on whatever they like. The point is, they got enough to buy some devs.

From page 51 of their latest 20-F:

Financial Services segment
The management of SFH, Sony Life, Sony Assurance and Sony Bank recognizes the importance of securing sufficient liquidity to cover the payment of obligations that these companies incur in the ordinary course of business. Sony Life, Sony Assurance and Sony Bank maintain a sufficient cash balance and secure sufficient means to meet their obligations while abiding by laws and regulations such as the Insurance Business Act or the Banking Act of Japan, and restrictions imposed by the Financial Services Agency and other regulatory authorities as well as establishing and operating under company guidelines that comply with these regulations. Sony Life and Sony Assurance establish a sufficient level of liquidity for the smooth payment of insurance claims when they invest primarily in various securities cash inflows which are mainly from policyholders’ insurance premiums. Sony Bank maintains a necessary level of liquidity for the smooth settlement of transactions when it uses its cash inflows, which come mainly from customers’ deposits in local currency, in order to offer mortgage loans to individuals, and the remaining cash inflows are invested mainly in marketable securities. Cash inflows from customers’ deposits in foreign currencies are invested mainly in investment instruments of the same currency.
In addition, Sony’s subsidiaries in the Financial Services segment are subject to the Japanese Insurance Business Act and Banking Act, which require insurance and business companies to maintain their financial credibility and to secure protection for policyholders and depositors in view of the public nature of insurance and banking services. As such, lending and borrowing between subsidiaries in the Financial Service segment and the other companies within Sony Group is strictly limited. Sony’s subsidiaries in the Financial Services segment are managed separately from Sony’s cash management activities through SGTS as mentioned above.
For further information about Sony’s views regarding utilization of cash flow from operating activities generated within the Sony Group for strategic investments, shareholder returns and as cash on hand, refer to “Issues Facing Sony and Management’s Response to those Issues: Third
Mid-Range
Plan — Financial Targets and their Progress.”
 

Tutomos

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That’s not true. Read their SEC filings, they specifically talk about the special nature of those securities.
I'm maybe too dense but where did they mention half of that $40bn is locked and not useable by Sony in the filing?
Even if it's just $20bn, plus the fact that they are making $10bn profit a year give or take, they got enough to acquire devs.
 

TKOFromTokyo

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I'm maybe too dense but where did they mention half of that $40bn is locked and not useable by Sony in the filing?
Even if it's just $20bn, plus the fact that they are making $10bn profit a year give or take, they got enough to acquire devs.
If you look at the breakdown of their balance sheet in the footnotes of the 20-F you see who has those assets.
 

NahaNago

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I'm maybe too dense but where did they mention half of that $40bn is locked and not useable by Sony in the filing?
Even if it's just $20bn, plus the fact that they are making $10bn profit a year give or take, they got enough to acquire devs.
From what I can tell the

F.Contractual Obligations, Commitments, and Contingent Liabilities


The following table summarizes Sony’s contractual obligations and commitments as of March 31, 2020. The references to the notes below refer to the corresponding notes within the consolidated financial statements.
TotalLess than
1 year
1 to 3
years
3 to 5
years
More than
5 years
(Yen in millions)
Contractual obligations and commitments:
Short-term debt (Note 11)810,176810,176
Long-term debt (Notes 8 and 11)
Finance lease obligations and other56,35014,21615,59310,01116,530
Other long-term debt608,42315,591373,126114,953104,753
Interest on other long-term debt4,4091,4891,0757291,116
Operating lease obligations, including imputed interest (Note 8)424,96576,469125,25470,967152,275
Purchase commitments (Note 28)
Contracts for the production or purchase of motion pictures, television programming or certain rights and rights to broadcast certain live action sporting events126,91756,38552,37217,480680
Contracts with recording artists, songwriters and companies128,67856,66233,36016,57622,080
Sponsorship contracts related to advertising and promotional rights5,1624,602560
Long-term contracts for development, distribution and publishing of game software29,2435,0834,5715,11514,474
Purchase commitments for fixed assets, materials, and other394,911255,58788,71147,3143,299
Future insurance policy benefits and other and policyholders’ account in the life insurance business* (Note 10)26,457,407594,9031,299,0261,370,75623,192,722
Gross unrecognized tax benefits** (Note 22)41,268
Total29,087,9091,891,1631,993,6481,653,90123,507,929


* Future insurance policy benefits and other and policyholders’ account in the life insurance business are the estimated future cash payments to be made to policyholders and others. These cash payments are based upon assumptions including morbidity, mortality, withdrawals and other factors. The sum of the cash payments shown for all years in the table of 26,457.4 billion yen exceeds the corresponding liability amount of 9,824.9 billion yen included in the consolidated balance sheets as of March 31, 2020. Refer to Note 10 of the consolidated financial statements.
** The total amount represents the liability for gross unrecognized tax benefits in accordance with the accounting guidance for uncertain tax positions. The settlement period for the liability, which totaled 41.3 billion yen, cannot be reasonably estimated due to the uncertainty associated with the timing of the settlements with the various taxing authorities. Refer to Note 22 of the consolidated financial statements.




the 26,457407 is actually 26,457,407,000,000 yen and that translates to 241,635,498,131.00 US Dollars or 241 billion of contractual obligations over the years. So i'm guessing here that the obligations are what keeps a certain amount of the billions in the bank to pay out for insurance policies.

Too much jargon for me
 
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ksdixon

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This job is old, was posted back in 2018 and relates to HR. There was a thread a week ago talking about this. It seems like a nothingburger.
I was going to say... wtf have Sony been doing for like 3 years?

Though the answer is still a resounding ''not f***ing enough!''. So many 3rd party's have gone multiplatform (Quantic Dream, SuperMassive), or bought by outside parties (Ready At Dawn by Facebook).
 
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yurinka

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I was going to say... wtf have Sony been doing for like 3 years?
They have been breaking gaming history records of console maker revenue, consoles sold, games sold for their console or getting hundreds of GOTY awards, just to name a few.

This job is old, was posted back in 2018 and relates to HR. There was a thread a week ago talking about this. It seems like a nothingburger.
A few months after posting it in 2018 they bought Insomniac. After posting it again they bought Housemarque, Nixxes and are rumored to buy Bluepoint and Arc System Works.
 
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