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Investing.com -- Sony Group is exploring a sale of its unit that provides cellular chipsets for connected devices as the company shifts its focus to the entertainment segment, Reuters News reported on Wednesday.
The Japanese technology and entertainment conglomerate is working with investment bankers on the sale of Sony (NYSE:SONY) Semiconductor Israel, according to three people familiar with the matter. The process is currently in the early stages.
Sony Semiconductor Israel generates about $80 million in annual recurring revenue and is expected to be valued at close to $300 million in any deal, the sources said.
Sony acquired the business, formerly called Altair Semiconductor, in 2016 for $212 million.
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