After months of speculation about who would step in to save the scandal-ridden Olympus' rocky fortunes, Sony has finally opened up its checkbook. The two companies are entering into a "business and capital alliance," with Sony pumping in $650 million to its former rival. In exchange, it's gaining a seat on the company's board and a 51 percent stake in a new joint venture based on Olympus's coveted medical imaging tech -- something Kaz Hirai outlined in his "One Sony" strategy. The deal also includes a component-sharing agreement in the photography space, with Olympus mirror cells and camera lenses being given to Sony, while image sensors (where Sony is very strong) will go the other way.
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Sony makes Olympus rescue pact official with $645 million investment originally appeared on Engadget on Fri, 28 Sep 2012 04:54:00 EDT. Please see our terms for use of feeds.
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