Divestment of Sony Ericsson completed
The previously announced divestment of Ericsson's share of Sony Ericsson to Sony, including the broad IP cross-licensing agreement, completed on February 15, 2012
Ericsson's gain on the transaction will be approximately SEK 7.5 billion and reported as 'Other operating income'
Ericsson (NASDAQ:ERIC) has today completed the divestment of its 50 percent stake in Sony Ericsson Mobile Communications AB ("Sony Ericsson"), including the broad IP cross-licensing agreement, jointly announced by Sony Corporation ("Sony") and Ericsson on October 27, 2011. This makes Sony Ericsson a wholly-owned subsidiary of Sony. The agreed cash consideration for the transaction is EUR 1.05 billion.
Ericsson's gain on the transaction will be approximately SEK 7.5 billion and will be reported in the first quarter result on April 25, 2012, as 'Other operating income' in the income statement.
NOTES TO EDITORS
Press release from October 27, 2011, about Sony to acquire Ericsson's share of Sony Ericsson: http://www.ericsson.com/thecompany/press/releases/2011/10/1558488
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Ericsson is the world's leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today more than 40 percent of the world's mobile traffic goes through Ericsson networks and we support customers' networks servicing more than 2 billion subscribers.
We operate in 180 countries and employ more than 100,000 people. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2011 the company had revenues of SEK 226,9 billion (USD 35,0 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
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Source: Ericsson via Thomson Reuters ONE
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