Thursday, October 27, 2011

Sony is the Sony-Ericsson all by 1,050 million

Swedish telecommunications company Ericsson Sony Japan will sell 50% of Sony-Ericsson , the joint venture that both remained in the mobile business since October 2001, for 1,050 million euros. Thus, the multinational Nippon will control one hundred percent of the shareholders of this company, which will be integrated into an independent division within Sony.

"The transaction provides the opportunity to integrate Sony's business quickly smartphones in its vast network of interconnected electronic devices " , said the Swedish company.

Also, the agreement gives the Japanese company a broad cross-licensing agreement and intellectual property rights, as well as five families of patents essential mobile technologies.

"This acquisition makes sense for both Sony and Ericsson," said President and CEO of the Japanese company, Howard Stringer, who stressed that this agreement allows developing the strategy in "four screens" of the company.

The transaction, with the authorization of the respective decision-making bodies of the two companies, will close in January 2012 pending the relevant regulatory conditions.


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