Sony buys out Sony Ericsson for €1.05 billion

We heard the rumors circulating for awhile now and it looks like the inevitable has happened — Sony has just bought Sony Ericsson for €1.05 billion. I’m sure some of you are confused with the news thinking, “Wait. Sony bought Sony?” Not quite. Sony Ericsson was actually its own separate company (Ericsson) that turned into a joint venture when Sony essentially bought half of the company back in 2001. This buyout now gives Sony full ownership of the company and allows them to expand their portfolio beyond audio, tablets, laptops and gaming and allows Sony to make a big splash in the smartphone market as well. The agreement also gives Sony a leg up thanks to “five essential patent families” that come with the deal. The separation won't be finalized, however, until January 2012, pending regulatory approval. 

Source: Phandroid