Sony (SONY) is weighing a sale of its business that provides cellular chipsets for connected devices as the company re-centers its focus on entertainment, Reuters’ Milana Vinn reports, citing three people familiar with the matter. The conglomerate is working with investment bankers on a potential sale of Sony Semiconductor Israel, which is in preliminary stages, the author notes. The business generated roughly $80M in annual recurring revenue and is anticipated to be valued at nearly $300M in any transaction, the author says, adding that the unit is expected to draw interest from financial sponsors and semiconductor industry players.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SONY:
- ‘Elden Ring Nightreign’ best-selling game in U.S. in June, says Circana
- Switch 2 debuts as fastest-selling gaming device in U.S. history, says Circana
- Unusually active option classes on open July 23rd
- Xbox’s ‘Forza Horizon 5’ top-selling new PS5 release in 2025 so far, says Alinea
- Game On: Ubisoft’s Q1 net bookings ‘below expectations’