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Sony completes Sony Ericsson buyout

Updated Dec 19th, 2018 7:46PM EST
BGR

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Sony on Thursday announced the transaction to acquire Ericsson’s 50% stake in Sony Ericsson has been completed. Sony and Ericsson announced the deal last October, which was worth €1.05 billion in cash and made Sony Ericsson a wholly-owned subsidiary of Sony. The company will be renamed to Sony Mobile Communications and will “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.” Read on for Sony’s press release.

Sony Completes Full Acquisition of Sony Ericsson

Sony 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.

Dan joins the BGR team as the Android Editor, covering all things relating to Google’s premiere operating system. His work has appeared on Fox News, Fox Business and Yahoo News, among other publications. When he isn’t testing the latest devices or apps, he can be found enjoying the sights and sounds of New York City.