Sony has announced that it's ready to offload its shares in developer Square Enix, bringing an end to an investment relationship that has lasted for more than ten years. The company is currently Square Enix's third largest shareholder, but that'll all come to an end when it officially shifts its shares to SMBC Nikko Securities.
The deal is said to be worth around $47 million to Sony, which actually sees Sony taking a hit when the price is compared to the $157 million market value of the shares. It's unknown why exactly Sony has made the decision to sell, or why it's willing to take such a hefty cut, but the deal is expected to be finalized in the weeks ahead.
During the early part of the partnership between the companies, Sony reaped the rewards of system exclusivity for some Final Fantasy and Kingdom Hearts titles, but as time progressed and the Xbox 360 became such a powerhouse in the industry, Square Enix eventually went multiplatform with the majority of its games - although it's unlikely that this had any bearing on the sale.