Announced in October 2011, Sony and Ericsson have finally completed the legal requirements in terms of the former's takeover of what was previously known as Sony Ericsson.
Originally set up as a 50:50 joint venture, Ericsson has confirmed it's completed the divestment of its 50 percent stake in Sony Ericsson Mobile Communications.
The company - now known as Sony Mobile Communications - is a wholly-owned subsidiary of Sony, and headquartered in London.
Cashed in
Sony paid 1.05 billion (around $1.4 billion) to Ericsson for the deal, which includes an IP cross-licensing agreement.
Ericsson will book SEK 7.5 billion (around $1.1 billion) under 'Other operating income' in its next quarterly financials.
[source: Ericsson]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Top Stories
News
May 31st, 2024
Week in Views - Squad Busters goes global, broken app stores, and Hill Climb Racing gets the LEGO treatment
News
May 31st, 2024
Mobile Movers: All the latest appointments and job moves from around the industry
Events
Indie Game Fest & Indie Campus 2024 | Europe | May 31st |
Game Access Conference 2024 | Europe | May 31st |
Indie Craft K-Game Festival 2024 | Europe | May 31st |
Gaymer Pride | North America | Jun 1st |
BostonFig Online 2024 | Jun 1st | |
GameSummit Summer 2024 | Jun 1st | |
Gotland Game Conference 2024 | Nordic | Jun 3rd |
Games Mental Health Summit 2024 | Europe | Jun 3rd |