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Friday, May 2, 2014
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Sony Reaches Deal To Sell PC Business
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Sony has entered an agreement with Japan Industrial Partners Inc. to sell Sony's Vaio brand PC business to JIP's special purpose company.
The SPC, named Vaio Corp., will be financed by Japan Industrial Partners IV Investment Limited Partnership, which is controlled and operated by JIP.
Sony's PC business operated in Japan under the VAIO brand and certain related assets will be transferred to SPC. The parties are targeting July 1, 2014 for the completion of the sale.
On Feb. 6, Sony announced it will discontinue the sale of PC products after the spring 2014 lineup in all countries where they have been on the market. Customers will continue to receive aftercare service even after Sony's withdrawal from the PC business, the company said.
Vaio Corp., based in Azumino, Nagano Prefecture, will be capitalized at 1 billion yen ($9.76 million). JIP will hold a 95-percent stake while Sony will have the remaining 5 percent.
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