SoftBank is closing in on a deal to acquire SP.LINKS Inc., a Japanese payments services provider currently owned by Blackstone, after emerging as the preferred bidder in what’s shaping up to be a $625 million transaction.
The deal, if completed, would hand Blackstone a tidy return on a company it picked up for roughly $250 million just over two years ago.
The deal taking shape
SP.LINKS, formerly known as Sony Payment Services, landed on the market after Blackstone decided to cash in on what appears to be a successful turnaround play. Blackstone acquired an 80% stake in the company from Sony Group in January 2024 for approximately ¥40 billion, which was around $250 million at the time. The enterprise valuation of SP.LINKS at the time of that acquisition was ¥50 billion.
Now the firm is targeting a valuation of roughly ¥100 billion, or about $625 million — more than double the enterprise value it paid when it bought in.
