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]
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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.
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