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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sony Corporation    6758   JP3435000009

SONY CORPORATION

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Sony : Acquires Nevion to Enhance its Portfolio of End-to-End IP/Cloud-based Production Solutions for Broadcasting and other Applications

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09/30/2020 | 03:10am EDT

Tokyo, Japan - Sony Imaging Products & Solutions Inc. ('Sony') today announced that it is acquiring Nevion AS ('Nevion'), a leading provider of virtualized media production solutions, to further enhance its portfolio, providing end-to-end IP and cloud-based production solutions for broadcasting and other applications. Sony, which has been a minority shareholder in Nevion since July 2019, is purchasing the remaining shares in the company, and making it a subsidiary.

Sony has been at the forefront of IP-based production innovation for the past decade. In recent years, there has been an increasing demand in broadcasting and other business areas for remote production solutions and remote integration (REMI), as they allow resources such as equipment, facilities and even staff to be shared across locations in real-time, resulting in greater efficiency and effectiveness. The spread of COVID-19 has accelerated this trend, and the need of combining on-premise facility and cloud processing, enabling remote work and resource sharing, has become the basis of business continuity planning for the broadcast and production community. Since June 2019, Sony has had a strategic partnership with Nevion, and both companies have been collaborating to address those markets. This investment will enable Sony to build a much closer relationship with Nevion and lead to the delivery of more integrated solutions.

'We are always listening to our customers' feedback, pushing hard to deliver innovation that goes beyond their expectations. Through this investment, we will take the scope of IP-based remote production to the next level as one of our highly focused business fields', said Mikio Kita, VP of Media Solutions, Sony Imaging Products & Solutions Inc. 'As the Sony Group, we pursue technologies to achieve `Remote', `Reality' and `Real time' solutions. With Nevion's acclaimed expertise, we will deliver more integrated and optimal experience for our customers.'

About Nevion AS
  • Headquartered:
    Lysaker, Norway
  • Main fields of business:
    Development of integrated IP solutions including virtualized media production for broadcasters and telecommunications service providers.

Disclaimer

Sony Corporation published this content on 30 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2020 06:09:03 UTC


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Sales 2021 8 408 B 80 303 M 80 303 M
Net income 2021 616 B 5 883 M 5 883 M
Net cash 2021 2 390 B 22 829 M 22 829 M
P/E ratio 2021 17,5x
Yield 2021 0,56%
Capitalization 10 700 B 102 B 102 B
EV / Sales 2021 0,99x
EV / Sales 2022 0,89x
Nbr of Employees 111 700
Free-Float 96,7%
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Mean consensus BUY
Number of Analysts 23
Average target price 10 036,50 JPY
Last Close Price 8 674,00 JPY
Spread / Highest target 52,5%
Spread / Average Target 15,7%
Spread / Lowest Target -7,77%
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NameTitle
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Shuzo Sumi Co-Chairman
Hiroki Totoki Chief Financial Officer, Director & Vice President
Toru Katsumoto Senior Managing Executive Officer, Head-R&D
Makoto Toyoda Chief Information Officer & Executive Officer
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