It’s official. Samsung will acquire all Sony shares from the S-LCD joint venture to make it a wholly owned subsidiary of Samsung Electronics. Samsung will pay Sony about 1.08 trillion won (US$940 million) for the transfer of shares and have entered into a new agreement wherein Samsung will supply LCD panels to Sony at market prices.

Samsung reckons with S-LCD under its wing, they can make both panel production and business operations faster, flexible and efficient.

The share transfer and payment is expected to be completed by January 2012.