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Sony Said to be Making a $623 Million Dollar Investment in Olympus

by Sean P. Aune | June 23, 2012June 23, 2012 5:00 pm PST

Olympus Building

It looks like Sony may be laying claim to ten percent of camera maker Olympus in the not too distant future.

According to a new report from Nikkei, Sony is in talks with Olympus to make a $623 million dollar investment in the struggling camera maker.  Should this deal come to pass, it would make Sony the largest shareholder in Olympus.

According to other reports, the deal is fairly close to being finalized and could be wrapped as soon as within the next two months.  However, Tsuyoshi Oshima, a spokesperson for Olympus, told Reuters, “This is not something that we have announced. It has not been decided yet,” when they company was questioned about the deal.

The camera company has been on the skids for a while now as The Verge points out with accusations of accounting issues, plans to lay off 2,700 employees and more.  While Sony has been having cashflow issues of its own as of late, it is in nowhere nearly as bad shape as Olympus, so hopefully the two companies would be able to help one another out some.

[via Nikkei]

Sean P. Aune

Sean P. Aune has been a professional technology blogger since July 2007, but his love of tech dates back to at least 1976 when his parents bought...