Cloud-based gaming service Gaikai has had plenty of spring in its step recently, and now we know why: it's been tying up a deal to sell itself for a rather substantial sum of cash. The $380 million agreement is slightly below the $500 million bandied about it in some rumors last week, so perhaps SCE execs feel like they've got themselves a bargain.

SCE boss Andrew House promised that the union of Gaikai's "engineering talent" with his company's "game platform knowledge" would lead to "unparalleled cloud entertainment experiences." For his part, Gaikai CEO David Perry said he was "honored" to help Sony "grow their ecosystem." None of this sheds much light on precisely what the Japanese giant will do with its new acquisition, or how it'll deal with the potential (imaginary?) awkwardness of supplying a service direct to TV rivals like Samsung and LG. In any case, the two companies need to secure regulatory approval before getting down to the tricky stuff.

Continue reading Sony buys Gaikai cloud gaming service for $380 million

Sony buys Gaikai cloud gaming service for $380 million originally appeared on Engadget on Mon, 02 Jul 2012 02:55:00 EDT. Please see our terms for use of feeds.