Sony to Acquire Ericsson Share
Long rumored – now official – a new era begins for Sony w/o Ericsson ‘not just a name change but a game change’ http://bit.ly/rKKgOe
A logical evolution, as widely discussion across the interwebs – see Techno Yoda links below, one point we’ve not seen anywhere else would be the continued increase of Yen exchange value over the last few years making that $1Bn just a bit easier to swallow. [Eds]
Sony Corporation (“Sony”) and Telefonaktiebolaget LM Ericsson (“Ericsson”) today announced that Sony will acquire Ericsson’s 50 percent stake in Sony Ericsson Mobile Communications AB (“Sony Ericsson”), making the mobile handset business a wholly-owned subsidiary of Sony.
The transaction gives Sony an opportunity to rapidly integrate smartphones into its broad array of network-connected consumer electronics devices – including tablets, televisions and personal computers – for the benefit of consumers and the growth of its business. The transaction also provides Sony with a broad intellectual property (IP) cross-licensing agreement covering all products and services of Sony as well as ownership of five essential patent families relating to wireless handset technology.
As part of the transaction, Ericsson will receive a cash consideration of EUR 1.05 billion. The transaction, which has been approved by appropriate decision-making bodies of both companies, is expected to close in January 2012, subject to customary closing conditions, including regulatory approvals.