Sony got into batteries back in 1975, and in 1991 it became the first company to commercialize the lithium-ion battery. Now the Japanese giant is selling the historic division to Murata, another Japanese tech company.
The plan was announced on Thursday, but the two firms won’t come to a binding agreement until October. Sony expects to finalize the deal by March 2017. There’s no mention of a potential price for the sale, and it’s likely those details are still being worked out.
Sony has been selling off various businesses and assets in an effort to become profitable. It previously sold its VAIO computer division, along with its New York and Tokyo headquarters. The company also spun off its profitable sensor division and its TV business.
Murata isn’t a household name like Sony, but it’s a major player in the electronics components business. The company’s also developed some interesting robots, including the bicycle-riding Murata Boy and a team of robotic cheerleaders. The firm says it plans to integrate Sony’s battery division into its energy business.