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Sony Makes Major Stake In Square Co.

Sony Computer Entertainment said today that it will take a 19% stake in Tokyo-based Square Co.
The deal consists of the purchase of 11.2 million new shares in Square, priced at $11 per share -- about 18% off of Tuesday's closing price. The total value of the investment is approximately $124 million. Sony said Tuesday that investing in Square will allow both companies to work together to develop online games. According to a spokesperson from Square, the deal will not limit the company's ability to develop games for non-Sony platforms.

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