October 27, 2011 07:02 am EDT
Original Link: http://www.engadget.com/2011/10/27/sony-buys-out-ericssons-stake-in-joint-venture-assumes-ownersh/
Sony to buy out Ericsson's stake in joint venture, call it quits after ten years
We all saw it coming and, sure enough, it's finally happened. After all the rumors and opaque comments, Sony has just bought out Ericsson's share of Sony Ericsson, effectively assuming ownership of the entire venture. Ericsson confirmed the buyout this morning, adding that it will receive a cash consideration of €1.05 billion in exchange for its 50 percent stake. Sony, meanwhile, will now have the chance to integrate smartphones more tightly within its arsenal of tablets, laptops and gaming devices. The agreement also gives Sony an IP cross-licensing agreement and ownership of "five essential patent families" pertaining to wireless tech, though the breadth of this coverage remains unclear. The separation won't be finalized, however, until January 2012, pending regulatory approval. Find more details in the full PR, after the break.
[Thanks to everyone who sent this in]
[Thanks to everyone who sent this in]
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Sony to buy out Ericsson's stake in joint venture, call it quits after ten years originally appeared on Engadget on Thu, 27 Oct 2011 03:02:00 EDT. Please see our terms for use of feeds.
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