Sony buys out Ericsson’s remaining shares, becomes known as Sony again
Goodbye Ericsson, we feel this has been a long time coming and we’re not quite shedding a tear for you just yet. In breaking news, Sony has bought out the remaining Ericsson shares, calling an end to their Joint Venture which started in 2001. Both companies announced today that Sony will in fact be buying out Ericsson’s 50% share of the Joint Venture for a cost of EUR1.05 billion (around $1.47 billion) in cash making the mobile division a completely Sony owned subsidiary now.
Sony will also receive all broad intellectual-property cross-licensing agreement and ownership of five essential patent families (a bonus which as everyone knows is required these days to fight off Patent Trolls). As for the deal, it has been approved by both companies and it will be finalized in January 2012.
From a personal point of view, while Ericsson might have had experience in making mobile phones before 2001, we never quite found a single handset that we considered quality back in the day and while Sony might have benifited from their Joint Venture, we feel Sony taking over the mobile business for itself is the best decision Sony has made. Sony (apart from recent ‘hacking’ problems) has been a great company with quality products that are innovative and fresh (PS3, Bravia TV’s, etc) and this move will only benifit Sony in creating better mobile devices in the future. Hear it from us now, this is a good thing.