Panasonic controls Sanyo

It may well have been on the drawing board for quite some time now, but it looks as though the negotiations between Panasonic Corp and Sanyo Electronic Co have come to a mutually beneficial end. According to the Nikkei newspaper, Panasonic has agreed to purchase the controlling stake in Sanyo, which will result in one hell of a mega-corporation. The Nikkei claims that we can expect an official announcement from the presidents of both companies this Friday, with further details of the ins and outs of the acquisition.

The newspaper failed to list its sources of information, but if they’re to be believed, the merging of Panasonic and Sanyo would result in a company with revenues of over $110 billion USD. Panasonic is not expected to dissolve the Sanyo brand, with the consumer electronics super-giant apparently looking to retain the majority of its acquired company’s employees. The actual merger is not expected to properly take place until April 2009, which doesn’t leave Sanyo with a whole lot of time to bring something revolutionary to the market before they’re no longer their own bosses. (Image courtesoy of Gizmodo).