Thursday, February 16, 2012

Sony Erricson is now Sony Mobile Communications: Sony completes Ericsson Buy out.

A few days ago Google bought Motorola mobility. Microsoft tried to buy Nokia. All this was beginning of a change. And the change continues...

Sony has bought Ericsson's  50% stake and now Sony Ericsson will now be called Sony Mobile Communications.

Back in October, Sony had announced that it will be purchasing Telefonaktiebolaget LM Ericsson's 50 percent stake in the Sony Ericsson joint venture for €1.05 billion, turning it into a wholly owned subsidiary of Sony. And although the deal was supposed to finalize in January, it took a bit.

Sony Corporation (Sony) has finally announced that it has finally acquired Telefonaktiebolaget LM Ericsson's ("Ericsson") 50 per cent stake in the pair's former joint venture Sony Ericsson Mobile Communications AB ("Sony Ericsson").

The company also announced to rename the now fully Sony owned Sony Ericsson as "Sony Mobile Communications".

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.

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