Andre Yoskowitz
24 Jun 2012 16:32
According to multiple sources, Sony will look to invest $620 million into the desperate digital camera maker Olympus.
The once-giant company was rocked by an accounting scandal earlier this year, with most major executives being forced to resign. The company had to restate their past earnings to show losses in the billions that had been hidden in off-balance sheet vehicles.
If accurate, the deal would make Sony the company's largest shareholder with an 11 percent stake.
Both companies declined comment but the sources expect the deal to close net month.
Using its position, Sony will likely team up with Olympus on camera technology and its medical equipment business.