Sony will pay €1.05 billion to de-Ericsson its mobile joint venture

Ericsson on Thursday announced that it has agreed to sell its stake in Sony Ericsson to Sony Corporation for €1.05 billion in cash. The deal is in line with earlier reports. Sony will become the sole owner of the mobile company, and it will integrate Sony Ericsson devices into its “broad platform of network-connected consumer electronics products.” The deal also includes a cross-licensing and ownership agreement agreement whereby Sony will have access to a number of related patents. “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 b... »read more

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