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Sony invests $400 million in Chinese entertainment platform Bilibili

The pair will also enter into a " business collaboration agreement" when the deal closes to "pursue collaboration opportunities" in the Chinese market.

Sony has invested $400 million into Chinese entertainment platform Bilibili. The deal will see the Japanese console maker grab a 5 percent stake in the company by acquiring 17.3 million newly issued Class Z shares. 

Notably, the pair will also enter into a " business collaboration agreement" when the deal closes to "pursue collaboration opportunities" in the Chinese market, including working on anime and mobile game projects. 

For those unfamiliar with Bilibili, the media sharing platform launched in 2010 and currently attracts around 130 million monthly active users. It hosts to a wide variety of content including videos, live broadcasts, and mobile games, and intends to further diversity its portfolio moving forward. 

"We are excited to partner with Sony, the world’s leader in entertainment and technology. The strategic investment and business cooperation further align our goals to bring best-in-class content offerings and services to our users, as we increase our domestic stronghold in animation and mobile games," commented Bilibili chief exec Rui Chen in a press release.

"We look forward to joining efforts on a broader scale to fulfill the tremendous and growing entertainment needs in China."

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