Sony looking into sale of cellular chipsets unit, Reuters reports

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.