Sony completed its $1.47 billion acquisition of Sony Ericsson today, launching an aptly-named venture, Sony Mobile Communications. The Japanese conglomerate stated the official goal of Sony Mobile Communications in a statement announcing the transaction back in October:
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.
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