We've seen this coming for a few weeks now, and today it was announced that after 10 years together and some €1.5 billion in profits, Sony its indeed buying out the Ericsson share in Sony Ericsson.
Ericsson confirmed the buyout this morning and will receive a payday of €1.05 billion in return for its half of the partnership. The deal also sees sony receive an IP cross-licensing agreement as well as "five essential patent families."
Why, you ask?
The transaction gives Sony an opportunity to rapidly 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. The transaction also provides Sony with a broad intellectual property (IP) cross-licensing agreement covering all products and services of Sony as well as ownership of five essential patent families relating to wireless handset technology.
Check out the full presser after the break.
Source: Sony Ericsson
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