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Gaikai 'seeking $500m buyout'

Cloud gaming firm ready to sell, new report claims

Executives at cloud gaming firm Gaikai are looking to sell on the company, a new national media report suggests.

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The California cloud gaming firm is thought to have hired brokers who will value it at more than $500 million.

The news comes off the back of industry speculation that Sony was poised to acquire Gaikai in a bid to stream legacy PlayStation content on PS3.

Sources close to the matter told CVG that a Sony partnership was in place, though an acquisition was a more complicated matter. However, it transpired that Sony announced no such deal and executives at Gaikai publicly denied the rumours.

Now alleged sources speaking to CNN Money say that Gaikai is once again pitching its business.

The deal could be complicated due to the number of companies which own equity in the firm. Benchmark Capital, Rustin Canyon Partners, Intel Capital, New Enterprise Associates and Qualcomm Ventures each have invested in Gaikai.

A spokesperson for Gaikai has declined to comment.

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