Update on closing of Telcordia acquisition
(Thomson Reuters ONE) -
* New estimated closing in the beginning of 2012
* Ericsson and Telcordia confident in the progress of the approval process
Ericsson (NASDAQ:ERIC) informs that the acquisition of Telcordia will likely not
close before year-end as originally forecasted when the agreement was announced
on June 14, 2011.
With approvals still outstanding from certain government authorities and as we
are in the holiday season, the original estimate of closing by year-end is
likely not probable.
Both companies continue to work diligently with the government authorities in
order to close the acquisition as soon as possible. Our new estimate is in the
beginning of 2012.
On June 14, 2011, Ericsson announced that it had entered into a merger agreement
with Providence Equity Partners, LLC and Warburg Pincus to acquire 100 percent
of the shares of Telcordia for USD 1.15 billion in an all cash transaction, on a
cash and debt-free basis. The transaction includes approximately 2,600 employees
and Telcordia's customer base.
Notes to editors:
Link to the press release from June 14, 2011, "Ericsson to acquire Telcordia":
http://www.ericsson.com/news/1523267
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
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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/1573220/489688.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
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originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
[HUG#1573220]
Unternehmensinformation / Kurzprofil:
Datum: 27.12.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 99892
Anzahl Zeichen: 3598
contact information:
Town:
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Kategorie:
Business News
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"Update on closing of Telcordia acquisition"
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