Sony (SNE) on Friday announced that it has made a significant investment in Olympus (OCPNY). In a deal amounting to approximately $644 million, Sony will purchase some 34,387,900 newly issued shares from the struggling camera maker for an 11.46% stake in the company. Sony and Olympus are set to form a joint medical venture that will develop and manufacture surgical endoscopes with 4K resolution and other medical devices, the companies said in a statement. The two manufacturers will also cooperate in the area of digital cameras by exploring opportunities that will be mutually beneficial and enhance their competitiveness. Olympus will supply Sony with various camera technologies such as lenses and mirror cells, while Sony will provide its image sensors to Olympus.