Ericsson closes the Acquisition of GDNT, China
(Thomson Reuters ONE) -
* Ensures continued development of CDMA and GSM businesses
* All assumed agreements will be honored and fulfilled
* Adds R&D, manufacturing and services capabilities
Ericsson (NASDAQ:ERIC) has today completed the asset purchase agreement to
acquire certain assets of the Guangdong Nortel Telecommunications Equipment
Company Ltd (GDNT). This acquisition gives Ericsson talented R&D engineers,
manufacturing and services professionals, as well as manufacturing and research
facilities in the China region and ensures continued development of the CDMA &
GSM businesses.
"With these new assets, we can even better support our customers globally," said
Rima Qureshi, Senior Vice President and Head of Business Unit CDMA Mobile
Systems. "Our new and agile employees complement the existing R&D, manufacturing
and services capabilities of our business."
Mats H Olsson, President of Ericsson China & North East Asia said: "The
completion of this acquisition reaffirms our strong commitment to the China
market, while greatly enhancing our existing R&D, manufacturing and services
capabilities in the region. I'm very happy to welcome this new source of energy
into the Ericsson family and look forward to its continuous contribution to the
development of GSM and CDMA markets not only here in the region, but also in the
world."
Today's closing follows the announcement on December 1, 2010, that Ericsson was
entering into an asset purchase agreement to acquire certain assets of the
Guangdong Nortel Telecommunication Equipment Company Ltd (GDNT).
Some 1,000 former GDNT employees, including approximately 550 R&D engineers will
be integrated in to the Ericsson group over the coming months and will work
under the Ericsson brand effective today. Former GDNT customers gain a business
partner dedicated to the ongoing support of their networks and the assurance of
a seamless transition. Manufacturing and Services will operate as a separate
business entity, known as "Ericsson (Guangdong Shunde) Communications Company
Limited, effective immediately.
SEB Enskilda acted as Ericsson's sole financial advisor in the transaction.
Notes to editors:
Pictures of quote:
www.ericsson.com/ericsson/press/photos/management.shtml
Previously announced information on Ericsson's acquisitions of Nortel assets:
http://www.ericsson.com/thecompany/press/releases/2010/09/1446864
http://www.ericsson.com/thecompany/press/releases/2010/04/1406030
http://www.ericsson.com/thecompany/press/releases/2009/11/1357032
www.ericsson.com/thecompany/press/releases/2009/07/1330882
www.ericsson.com/thecompany/press/releases/2010/04/1406030
www.youtube.com/ericssonpress#p/u/7/D3yDHV9O_5o
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 175 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
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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 in pdf:
http://hugin.info/1061/R/1515119/451356.pdf
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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#1515119]
Unternehmensinformation / Kurzprofil:
Datum: 12.05.2011 - 11:00 Uhr
Sprache: Deutsch
News-ID 54593
Anzahl Zeichen: 5347
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Town:
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