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Sony completes Sony Ericsson buyout, renames mobile subsidiary
Sony completes Sony Ericsson buyout, renames mobile subsidiary
February 17, 2012 | By Mike Rose

February 17, 2012 | By Mike Rose
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Newsbrief: Sony has completed its full acquisition of Xperia Play partner Sony Ericsson, buying out Ericsson's remaining 50 percent stake in the joint venture for 1.05 billion euros ($1.5 billion) in cash.

This completes the acquisition which was originally announced back in October, making Sony Ericsson a wholly-owned subsidiary of Sony, and bringing the Xperia Play mobile gaming platform in-house.

The company also announced that it is set to rename Sony Ericsson -- in the future, the subsidiary will be known as Sony Mobile Communications, and Sony will integrate its mobile phone business into its electronics business.

[Correction: The story originally said Sony completed its acquisition of Ericsson. Sony actually completed its acquisition of Ericsson's stake in the Sony Ericsson venture. We regret the error.]


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