Sony acquires most of EMI Music, invests $9 billion in image sensors

TOKYO — Electronics and entertainment company Sony Corp. plans to spend $2.3 billion US acquiring an additional 60 per cent stake in EMI Music Publishing, home to the Motown catalogue and contemporary artists such as Kanye West, Alicia Keys and Pharrell Williams.

Sony already owns 30 per cent of EMI, so once the purchase from Mubadala Investment Co. is finalized, it will own 90 per cent of the company, CEO Kenichiro Yoshida said in a news conference at Sony headquarters.

Mubadala is a governmentbacked investment fund controlled by the emirate of Abu Dhabi, the oil-rich capital of the United Arab Emirates, a sevenstate federation that also includes the Mideast commercial hub of Dubai. Its holdings include semiconductor maker Globalfoundries, and stakes in General Electric Co., Washington-based private equity firm The Carlyle Group and numerous utility and energy companies.

Outlining the company’s revamped strategy to strengthen both its hardware and its creative content, Yoshida said Sony plans to invest 1 trillion yen ($9 billion US) mostly in image sensors over the next three years. Image sensors are used in many products including medical imaging equipment, cameras, radar, sonar and autonomous driving safety systems. They transmit data that makes up an image by converting light waves into electrical signals.

Yoshida said the company’s lead in sensors is crucial for evolving technologies such as self-driving cars and artificial intelligence.

The Tokyo-based maker of the Walkman portable player, Aibo entertainment robot and Bravia TVs has amassed know-how over the decades when it was leading in “analog technology,” said Yoshida, who was named president and CEO in February. He said Sony’s CMOS image sensor excels in its speed, lighting range and absence of noise.

Yoshida said the company’s main theme was “getting closer to people,” by connecting consumer services and content throughout its sprawling operations, which include the PlayStation game platform, music, films and home entertainment, still and video cameras, cellphones, computer chips and financial services.

Yoshida said the initiative to beef up Sony’s content was also behind a deal announced this month to acquire a stake in Peanuts Holdings, the company behind Snoopy and Charlie Brown.