Ericsson closes Telcordia acquisition
(Thomson Reuters ONE) -
* Consolidates position as a leading player in operations support
systems/business support systems (OSS/BSS) market with key position in
service fulfilment, assurance, network optimization and real-time charging
* Accretive to Ericsson earnings per share within 12 months
Ericsson (NASDAQ:ERIC) has today completed the acquisition of Telcordia, a
global leader in the development of mobile, broadband and enterprise
communications software and services, for USD 1.15 billion in an all cash
transaction, on a cash and debt-free basis. Telcordia is now part of the
Ericsson Group and its approximately 2,600 skilled employees have joined
Ericsson.
Today's closing follows the announcement on June 14, 2011, that Ericsson had
entered into a merger agreement with Providence Equity Partners, LLC and Warburg
Pincus to acquire 100 percent of the shares of Telcordia.
Per Borgklint, Head of Ericsson's business unit Multimedia, says: "The addition
of Telcordia's skilled people and knowledge, a good multi vendor product
portfolio and an important customer base in North America, complement Ericsson's
already established position in the OSS/BSS space.
"OSS and BSS are key to drive the customer experience and serve as the engine to
monetizing traffic, offerings and products that operators sell. All in all,
these systems are crucial to create the experience users expect in a cost
efficient manner."
The combination of the two companies creates the leader in service fulfilment,
service assurance and network optimization and gives Ericsson a leading position
in real-time charging and significant capabilities to support operators end to
end. The combination will address the needs of Communications Service Providers
to deliver mobile broadband and operational transformation to their subscribers.
The OSS/BSS is a growing market driven by the demand for business efficiency,
innovation and high quality user experience. In 2010, the market for software
and systems integration was valued at about USD 35 billion and is expected to
show a compound annual growth rate between 6-8 percent between 2010 and 2013. In
addition, there is an attractive market for outsourced and hosted OSS and BSS
managed services, growing in the same range.
Telcordia is headquartered in Piscataway, New Jersey, and generated revenues of
USD 739 million during the last fiscal year ended January 31, 2011. Telcordia
will be managed by Ericsson's business unit Multimedia but sales and margins
will be shared between Multimedia and Services depending on portfolio mix.
Notes to editors:
Press release from June 14, 2011 - Ericsson to acquire Telcordia:
http://www.ericsson.com/news/1523267
Picture of Per Borgklint:
www.ericsson.com/thecompany/press/photolibrary/management
Our multimedia content is available at the broadcast room:
www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of technology and services to telecom
operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and
provides support for networks with over 2 billion subscribers and has the
leading position in managed services. The company's portfolio comprises mobile
and fixed network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media industry. The Sony
Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich
personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in an all-
communicating world" through innovation, technology, and sustainable business
solutions. Working in 180 countries, more than 90,000 employees generated
revenue of SEK 203.3 billion (USD 28.2 billion) in 2010. Founded in 1876 with
the headquarters in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX,
Stockholm and NASDAQ New York.
www.ericsson.com
www.twitter.com/ericssonpress
www.facebook.com/technologyforgood
www.youtube.com/ericssonpress
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:media.relations(at)ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail:investor.relations(at)ericsson.com
Press release as PDF:
http://hugin.info/1061/R/1576841/491483.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
[HUG#1576841]
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