Sony to invest $642 million in Olympus

According to Reuters, Sony will invest $642 million for a 10% stake of Olympus:

"Sony Corp will likely approve a plan this week to invest 50 billion yen ($642 million) in cash-strapped Olympus Corp, becoming its biggest shareholder with around a 10 percent stake, three sources familiar with the deal told Reuters."

Based on previous reports, both companies are expected to work together on developing medical devices and digital camera components.

Update: former Olympus executives plead guilty in fraud trial.

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