28 Oct '11, 5am

Sony Buys Ericsson, Set to Unify All its Mobile Products #Press_Releases

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. During the past...

Full article: http://www.mhisham.org/2011/10/28/sony-buys-ericsson-set-...

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