Sony Corporation announced today that the transaction to buy out Ericsson's 50 percent share in Sony Ericsson was completed yesterday, February 15. The announcement marks the culmination of a nearly three month process, which started with Sony and Ericsson's joint statement of agreement back in October 2011 and was just recently approved by the European Commission on January 26. Sony Ericsson is a now a fully-owned subsidiary of the Sony Corporation, and will be officially renamed “Sony Mobile Communications” within the month.
As Sony originally stated, the buyout was spurred by its desire to integrate the Sony Ericsson line of smartphone devices into Sony's current line of network-connected devices. Moving forward, Sony Mobile Communication devices will become an integral part of Sony's “connected home”, which will include tablets, TVs, PCs, and now smartphones, including the company's flagship Xperia line.
Sony Mobile Communications will be headquartered in London with R&D sites in Beijing, Tokyo, Lund, and the Silicon Valley stateside. It will begin operating with 8,000 employees and EUR 100 million in capital. Hit the source link for Sony's official statement, and keep your eyes peeled for Sony-branded Xperias to start replacing the old Sony Ericsson moniker in the coming weeks.
Source: Sony Ericsson
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