Sony Computer Entertainment (SCE) has entered into a definitive agreement on June 30, 2012 to acquire Gaikai Inc., an interactive cloud-based gaming company, for approximately USD 380 million. Through the acquisition, SCE will establish a new cloud service.

"By combining Gaikai's resources including its technological strength and engineering talent with SCE's extensive game platform knowledge and experience, SCE will provide users with unparalleled cloud entertainment experiences," said Andrew House, President and Group CEO of Sony Computer Entertainment Inc. "SCE will deliver a world-class cloud-streaming service that allows users to instantly enjoy a broad array of content ranging from immersive core games with rich graphics to casual content anytime, anywhere on a variety of internet-connected devices."

Established in 2008 and headquartered in Aliso Viejo, California, Gaikai has developed the highest quality, fastest interactive cloud-streaming platform in the world that enables the streaming of quality games to a wide variety of devices via the internet.

The transaction is subject to certain regulatory approvals and customary closing conditions.