Kyocera Corp has completed the business combination with Sanyo Electric Co Ltd (Sanyo) on January 21, 2008, in which Kyocera acquires Sanyo's global mobile phone business. The agreement is now taking effect.
As part of the transaction, Sanyo had "carved out" its US mobile phone unit from its other businesses and created a new company, incorporating the unit's operations in North America. Effective today, Kyocera acquires the new company, calling it Kyocera Sanyo Telecom Inc (KSTI), and transfers its equity ownership to its North American holding company, Kyocera International Inc (KII) of San Diego.
Headquartered in Chatsworth, California, KSTI will continue to focus on the development, sales, marketing and service of Sanyo mobile phones in North America. KSTI's major customers in North America include Sprint and Qwest in the US, along with Bell Mobility in Canada. The company will maintain responsibility for its existing sales channel with the Sanyo brand.
KII also owns Kyocera Wireless Corp (KWC), a wholly owned, San Diego-based subsidiary formed in 2000 when Kyocera purchased the wireless phone division of Qualcomm Inc. To ensure continuity during the transition process, KSTI and KWC will each remain focused on its existing customer base.
Under terms finalized with Sanyo, Kyocera acquires a comprehensive set of assets relating to the research, development, design, materials procurement, manufacture, sales and marketing of CDMA handsets; PHS handsets; PHS base stations; and wireless communications systems; as well as a range of related technologies, intellectual property and patents.