Sony Officially Buys Out Ericsson
Sony, confirming weeks of rumors, has agreed to buy out Ericsson and take full control of the Sony Ericsson mobile phone joint venture.
The cost of the buyout is the equivalent of $1.47 billion.
“This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers, who want to connect with content wherever they are, whenever they want. With a vibrant smartphone business and by gaining access to important strategic IP, notably a broad cross-license agreement, our four-screen strategy is in place," Sony chairman and CEO Sir Howard Stringer said in a statement.