Sony Ericsson to Become a Wholly-Owned Subsidiary of Sony (Company Overview‪)‬

Ericsson (NASDAQ:ERIC) and Sony Corporation has announced that Sony will acquire Ericsson's 50 percent stake in Sony Ericsson Mobile Communications AB (Sony Ericsson), making the mobile handset business a wholly-owned subsidiary of Sony. 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.