Sony has decided to help out Olympus.
The Japan-based companies announced today that Sony will acquire over 34 million shares in Olympus through a third-party allotment to the tune of $645 million in cash. The deal, which both sides are calling a "capital alliance," is designed to help keep Olympus afloat after a scandal earlier this year brought the company to its knees.
To consumers, Olympus is best known for its cameras. But the company also produces optical equipment for medical, scientific, and industrial uses.
Olympus' troubles started...