Andre Yoskowitz
15 Feb 2012 23:04
Last year, Sony succeeded in their bid to buy out Ericsson's share of their jointly owned Sony Ericsson handset and mobile device company.
The deal cost Sony $1.05 billion euros and also included a patent cross-licensing deal. More importantly for Sony, gaining full ownership of Sony Ericsson cleared the way to integrate the company's devices into Sony's online entertainment network and offer a broad range of Sony owned content from companies like Sony Pictures and Sony Music Entertainment.
As of today, the acquisition has been completed. As the press statement reads, "this marks the completion of the transaction jointly announced by Sony and Ericsson on October 27, 2011, and makes Sony Ericsson a wholly-owned subsidiary of Sony."
The company will be renamed Sony Mobile Communications "with the aim of accelerating convergence between Sony's lineup of network enabled consumer electronics products, including smart phones, tablets, TVs and PCs."