Sony officially buys Ericsson’s share in SE for €1 billion

The rumors were not just rumors after all: Sony has officially announced that it’s going to buy Ericsson’s stake in Sony Ericsson – which was established as a joint-venture between the two companies back in 2001.

The deal will obviously not affect the SE brand, so we’ll continue to see Sony Ericsson smartphones being launched. The transaction is expected to close in January 2012, and will allow Sony to quickly “integrate smartphones into its broad array of network-connected consumer electronics devices – including tablets, televisions and personal computers – for the benefit of consumers and the growth of its business.”

It will also enable Ericsson – which gets €1.05 billion in cash from Sony – to focus “on the global wireless market as a whole.” In the long run, the transaction will probably have positive effects on both companies.

Sony Ericsson currently employs more than 7000 people. It’s headquartered in London, and there’s no reason for that to change after Sony’s takeover.

At the moment, more than 80% of Sony Ericsson’s products are Android smartphones. The company has recently announced that it would only produce smartphones starting next year, and I’m sure Sony will keep this promise.

Via Press release

Author: Florin

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  • Anonymous

    Hey, unwiredview, I know numbers mean nothing to you, so the fact that the deal is actually for 1.04 billion euros, not dollars, won’t bother you. But hey, that means it’s nearly $1.5 billion, a $500 million mistake on your part. Just saying that I’m glad that you’re not my broker.

  • Florin

    Sorry for that, it was just an editing mistake. €1.05 billion. Fixed. Thanks!