Sony has announced that it acquired Toshiba's image sensor business for $155 million. Talks of a merger emerged earlier this year, and the manufacturer has now confirmed that Toshiba's manufacturing facilities and employees will be transferred to Sony Semiconductor Corporation by the financial year ending March 2016.

Under the agreements, Toshiba will transfer semiconductor fabrication facilities, equipment and related assets of Toshiba's 300mm wafer production line, mainly located at its Oita Operations facility. The purchase price of the Transfer is 19 billion yen. Sony and Toshiba aim to complete the Transfer within the fiscal year ending March 31, 2016, subject to any required regulatory approvals.

After failing to make a dent in the smartphone segment, Sony has shifted focus to its image sensor unit, which is why it spun off the business into an autonomous entity in October. With its image sensors used in a majority of high-end phones from the likes of Apple, Samsung, LG and Xiaomi, Sony will be looking to maintain its competitive edge.

Sony has mentioned that the Toshiba manufacturing facility will be used primarily for the production of CMOS sensors.

Source: Sony; Via: The Verge