Sony Corp. is buying out Telefon AB LM Ericsson's 50 percent stake in their joint venture Sony Ericsson for €1.05 billion, or about .46 billion, in a bid to integrate smartphones into its consumer electronics portfolio.
The deal, which will make Sony Ericsson a wholly-owned subsidiary of Sony, also awards Sony five essential wireless handset technology “patent families” and a broad intellectual property cross-licensing agreement.
In a statement, Ericsson said that synergies from having
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