SoftBank is entering final negotiations to acquire Japanese payments provider SP.LINKS for approximately ¥100 billion ($625 million). The company emerged as the preferred bidder in an auction to buy the firm from Blackstone and Sony Financial Group’s banking unit.
SP.LINKS will become a wholly-owned subsidiary of SoftBank upon completion of the deal. Blackstone will sell its 80% stake, which it purchased from Sony in January 2024 for roughly ¥40 billion. Sony Financial Group’s banking unit will sell the remaining 20% interest.
SoftBank aims to integrate the business with its existing SB Payment Service to increase scale. The acquisition will allow both units to share costs for anti-fraud measures within Japan's growing cashless payment market.