For the last few years, Sony NEC Optiarc has operated as a joint venture between Sony and NEC. The two companies announced today that they have signed an agreement to transfer NEC's stock to Sony, making Sony NEC Optiarc a wholly-owned subsidiary of the Sony group.
Sony Corporation (hereafter Sony) and NEC Corporation (hereafter NEC) today announced that they have signed an agreement to transfer NEC's 45% stock in Sony NEC Optiarc Inc. to Sony.
Sony and NEC separated their optical disc drive businesses and combined each company's respective strengths in the Sony NEC Optiarc Inc. joint venture, established April 3, 2006, with the aim of achieving further business expansion.
As a result of this agreement, Sony will make Sony NEC Optiarc Inc. a wholly-owned subsidiary of the Sony group, and will seek to strengthen its interaction with Sony group's product and device businesses to further streamline decision-making processes, enhance management responsiveness and further reinforce its next-generation optical disc drive business.
NEC will continue to contribute to the advancement of Sony NEC Optiarc Inc.'s optical disc drive products through the LSI development being carried out at NEC Electronics Corporation.