Sony have just announced today that it has completely acquired Telefonaktiebolaget LM Ericsson’s (“Ericsson”) 50-percent stake in Sony Ericsson Mobile Communications for a deal to to have cost €1.05 billion ($1.37 billion) to complete. The company will now be changing the moniker to fully owned Sony Mobile Communications. Check out the press release after the cut.
Sony Completes Full Acquisition of Sony EricssonSony to Rename the Company Sony Mobile Communications and Accelerate Business Integration
February 16, 2012, Tokyo, Japan – Sony Corporation (“Sony”) today announced that the transaction to acquire Telefonaktiebolaget LM Ericsson’s (“Ericsson”) 50% stake in Sony Ericsson Mobile Communications AB (“Sony Ericsson”) has been completed as of February 15, 2012 (Central European time). 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.
Sony will rename Sony Ericsson “Sony Mobile Communications”, and further integrate the mobile phone business as a vital element of its electronics business, with the aim of accelerating convergence between Sony’s lineup of network enabled consumer electronics products, including smart phones, tablets, TVs and PCs.