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Oct 27, 2011

Sony to Buy out Ericsson's Stake in Joint Venture, call it Quits After Ten Years

We all saw it coming and, sure enough, it's finally happened. After all the rumors and opaque comments, Sony has just bought out Ericsson's share of Sony Ericsson, effectively assuming ownership of the entire venture. Ericsson confirmed the buyout this morning, adding that it will receive a cash consideration of €1.05 billion in exchange for its 50 percent stake. Sony, meanwhile, will now have the chance to integrate smartphones more tightly within its arsenal of tablets, laptops and gaming devices. The agreement also gives Sony an IP cross-licensing agreement and ownership of "five essential patent families" pertaining to wireless tech, though the breadth of this coverage remains unclear. The separation won't be finalized, however, until January 2012, pending regulatory approval.
 
 

4 comments:

Legitcheater said...

We all knew this was going to happen.

Dilord said...

What can we hope for this event? I hope we can get a more futuristic Smartphones from sony.

Hart said...

I, for one, welcome our Sony overlords.

YeamieWaffles said...

I agree, this was always going to happen, it was just a matter of when. Let's hope Sony capitalise on this and provide us with some quality phones in the future!