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Sony makes Olympus rescue pact official with $645 million investment
After months of speculation about who would step in to save the scandal-ridden Olympus' rocky fortunes, Sony has finally opened up its checkbook. The two companies have entered into a "business and capital alliance" worth around $650 million in exchange for a 51 percent stake in a new enterprise incorporating its former rivals highly desirable medical imaging business. The deal also includes a component-sharing agreement in the photography space, with Olympus mirror cells and camera lenses being given to Sony, while image sensors (where it's very strong) will go the other way.
Filed under: Cameras
Sony makes Olympus rescue pact official with $645 million investment originally appeared on Engadget on Fri, 28 Sep 2012 04:54:00 EDT. Please see our terms for use of feeds.
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