Following the accounting scandal that saw former CEO Michael Woodford ousted, Olympus’ coffers were looking decidedly empty; at that point, many potential suitors were rumoured. It turned out that Sony was the one whose offer was accepted. In a share transfer and cash deal – completed about a month ago – Sony pumped US$645 million into the company, to hold a total of 11.5%. What’s more interesting is that on most of the major business sites, this wasn’t reported as a transaction to invest in the cameramaker; rather, Olympus was frequently referred to as a ‘world leader in medical imaging’.
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