Sony buys Ericsson’s stake for 1.05 billion

Sony Corporation today announced that will buy Ericsson’s 50 percent stake in Sony Ericsson for €1.05 billion in cash, making the mobile handset business a wholly-owned subsidiary of Sony.

The deal is approved by both companies and is expected to be finalized in January 2012. The transaction will give Sony ownership of a broad IP cross-licensing agreement and ownership of five essential patent families relating to wireless handset technology. However the deal will not end the partnership between both companies, they’re planing to create wireless connectivity initiative to drive connectivity across multiple platforms.

Sony Ericsson

“This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers, who want to connect with content wherever they are, whenever they want. With a vibrant smartphone business and by gaining access to important strategic IP, notably a broad cross-license agreement, our four-screen strategy is in place. We can more rapidly and more widely offer consumers smartphones, laptops, tablets and televisions that seamlessly connect with one another and open up new worlds of online entertainment. This includes Sony’s own acclaimed network services, like the PlayStation Network and Sony Entertainment Network,” said Sir Howard Stringer, Sony’s Chairman, Chief Executive Officer and President.

Source: Sony

Related posts

Lenovo debuts Flex 14 ultrabook

Lenovo debuts Flex 14 ultrabook

The Chinese Lenovo has decided to introduce a new ultrabook known as Flex 14. The announcement has taken place in Singapore and the new notebooks pack some interesting features some of which include resemblance to the Yoga 11 device. The Flex 14 is “Flex” because its screen can be rotated 300...

ASRock Beebox is a noiseless mini PC

ASRock Beebox is a noiseless mini PC

We have become used to associating ASRock with motherboards but soon we will have to link the brand name with mini PCs as well or so it seems. Online reports claim that the plucky little Taiwanese motherboard maker, known for its super versatile motherboards, will soon release a new mini PC...

GreatCall Releases Jitterbug J Phone

GreatCall, Inc.  announced the national availability of its new Jitterbug J cell phone and expanded rate plans offering more affordable options to a wider range of consumer needs. The Jitterbug J cell phone is GreatCall's next generation device that supports the option of expanded easy-to-use...

Leave a comment