Sony announced today with a press release that Sony Computer Entertainment and Sony Network Entertainment will be merged into a single business unit named Sony Interactive Entertainment, based at the current Sony Computer Entertainment America headquarters of San Mateo, California. Operations in Tokyo and London will also be retained.

The new company, that will officially start operations on April 1st, at the beginning of the new fiscal year, was is described by Andrew House (who will take the helm as CEO) as follows:

"By integrating the strengths of PlayStation’s hardware, software, content and network operations, SIE will become an even stronger entity, with a clear objective to further accelerate the growth of the PlayStation® business. Along with our business partners, SIE will develop pioneering services and products that will continue to inspire consumers’ imaginations and lead the market. We will work hard to maximize corporate value by coordinating global business operations across San Mateo, Tokyo, and London by leveraging local expertise.”

Sony Interactive Entertainment's core objectives are:

"Retain and expand PlayStation user engagement, increase Average Revenue Per Paying Users (ARPPU) and drive ancillary revenue. SIE will vigorously expand the PlayStation business by delivering an integrated experience built around best-in-class games and network services to consumers worldwide."

Below you can see the executives in charge of the new business entity:

You'll probably easily notice that Shawn Layden will be in charge of Sony's Worldwide Studios, but Shuhei Yoshida immediately clarified on Twitter that he'll retain his current title, responding directly to Layden.