Sony and NEC agree on optical disc drive joint venture

Posted on Monday, February 27 2006 @ 19:32 CET by Thomas De Maesschalck

Forbes reports Sony and NEC have made a definitive agreement on establishing a new joint venture called Sony NEC Optiarc, to seek business opportunities in the optical disc drive field

Sony and NEC will spin off their respective optical disc drive businesses on April 1 and transfer them to the joint venture, which is to be established on April 3.

Shinichi Yamamura, deputy president of the video business group of Sony, will become president of the new company.

The firm will be capitalized at 490 million yen, Sony will have 55 percent and NEC 45 percent.

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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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