Blackstone Inc. plans to acquire Infocom Corp. for $1.7 billion, marking their entry into the thriving e-comics market, as per people familiar with the matter.
Blackstone reportedly outbid major rivals like Sony and KKR to secure the majority stake in Infocom, strengthening its digital comics presence.
Blackstone, the world’s largest alternative asset manager, has emerged as the buyer of a 55.1% stake in Infocom, and may aim to acquire all remaining Infocom shares.
Infocom shares surged 96% this year, pushing the company's valuation to about $1.8 billion, reflecting strong investor confidence.
With $1.1 trillion under management, Blackstone may continue its massive expansion after adding Infocom to its impressive portfolio.
Representatives from Blackstone and Infocom’s largest shareholder, Teijin Ltd., have declined to comment on the development so far.