A Sony plant in Pencoed near Bridgend in south Wales has been bought by a property group as part of an £83m deal.
Sony was one of the first Japanese firms to operate in Wales
The Japanese electronics giant announced last June that the Pencoed site and its second Bridgend plant were to close with the loss of 650 jobs.
Under the deal with Macquarie Global Property Advisors (MGPA) Sony will lease back half of the Pencoed plant.
Meanwhile, 100 jobs are being created in Bridgend by a Nottingham-based financial services company.
Under the MGPA deal, Sony has sold eight properties spread across Europe. It will lease back 65% of the properties, including half of the 800,000 sq ft Pencoed plant, just off the M4.
The Sony Technology Centre at Pencoed was built in 1993 and occupies 57 acres in all. The plant makes professional video cameras and employs about 350 people.
An aerial view of the Sony Pencoed site
Sony senior vice-president Derry Newman said the company had achieved "significant improvements" in its European supply chain and no longer needed all its buildings.
Vacant floor space at the Pencoed site will be marketed by international property consultants King Sturge, which said it had received several enquiries.
"The entire complex was constructed to a high standard and is prominently located adjacent to the M4," said partner Chris Sutton.
Last December Sony announced it had sold its Bridgend factory to a developer, which would break up the site for smaller business units and warehousing.
Meanwhile, there has been another boost for the Bridgend area with the news that Jigsaw, a Nottingham-based company, has take a 10-year lease for a call centre operation
It is creating 100 jobs with the aid of regional selective assistance grant from the Welsh Assembly Government.
Recruitment has begun for the operation, which specialises in insurance and telecoms products.
Bridgend AM Carwyn Jones said the firm had been attracted to south Wales "as a result of the highly-skilled workforce... our excellent transport links and the professional approach taken to sell these benefits to them".