Sony Ericsson now Sony Mobile Communications
Acquisition finalised for mobile phone company
Sony has finalised its acquisition of Sony Ericsson. The now wholly owned subsidiary has been renamed as Sony Mobile Communications, and its mobile phones will be integrated into the Sony line-up of products.
The newly named company will be headquartered in London, with R&D sites in Beijing, Lund, Silicon Valley and Tokyo. President and CEO Bert Nordberg will oversee the 8000 employees. Its stated capital is €100 million.
Sony Ericsson announced the deal last October, when it also revealed that Sony would pay $1.45 billion in the buy out.
"This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers, who want to connect with content wherever they are, whenever they want," said Sony's Howard Stringer at the time.
"With a vibrant smartphone business and by gaining access to important strategic IP, notably a broad cross-license agreement, our four-screen strategy is in place. We can more rapidly and more widely offer consumers smartphones, laptops, tablets and televisions that seamlessly connect with one another and open up new worlds of online entertainment. This includes Sony's own acclaimed network services, like the PlayStation Network and Sony Entertainment Network."