We heard that Sony was looking to buy Ericsson's half of Sony Ericsson earlier this month, and now that deal has come to fruition. Sony will purchase Ericsson's part of the joint effort that has been over a decade in the making for €1.05 billion cash. Aside from the obvious, the deal will also land Sony a cross-licensing agreement that includes access to a few "essential patent families relating to wireless handset technology."
The purchase will allow Sony to better streamline all of its current markets, including game consoles, smartphones, tablets, computers, and more into one unified subset of devices.
Ericsson: Sony to acquire Ericsson's share of Sony Ericsson
October 27, 2011, 08:16 (CEST)
- Sony Ericsson to become a wholly-owned subsidiary of Sony and integrated into Sony's broad platform of network-connected consumer electronics products
- The transaction also provides Sony with a broad IP cross-licensing agreement and ownership of five essential patent families
- Ericsson to receive EUR 1.05 billion cash payment
- Sony and Ericsson to create wireless connectivity initiative to drive connectivity across multiple platforms
Ericsson (NASDAQ:ERIC) and Sony Corporation ("Sony") 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.