Sony completes Ericsson buy out to create Sony Mobile Communications

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]