Sony announced on February 16, 2012 that the company has completed the transaction to acquire Ericsson's 50% stake in Sony Ericsson, according to a press release by Sony. Sony Ericsson is now a wholly-owned subsidiary of Sony. Sony Ericsson is expected to be renamed "Sony Mobile Communications" by Sony and the mobile phone business of Sony Ericsson is projected to be further integrated with Sony's products, such as PCs, TVs, Smartphones, and tablet PCs. As per the takeover deal, Sony and Ericsson will also cross-license five patent families relating to wireless handheld technology.