Ericsson closes Telcordia acquisition, presents Game Changers @ CES
Ericsson has completed the acquisition of Telcordia for US$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 employees have joined Ericsson.
The closing follows the announcement on June 14, 2011, that Ericsson had entered into a merger agreement with LLC and Warburg Pincus to acquire 100 per cent of the shares of Telcordia. 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.
Per Borgklint, Head, Business Unit Multimedia, Ericsson, said, "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 the 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."
In addition, Ericsson has also announced that its President & CEO Hans Vestberg offered new deals and proof points in his premier keynote appearance at the Consumer Electronics Show (CES) in Las Vegas.
"When you start to use the combination of software, sensors, and hardware, then you can improve processes and enable new ideas to turn into business. The result will be greater than anyone can imagine," said Vestberg.
Vestberg listed the advantages that the ICT (Information and Communications Technology) industry can bring to other industries. Then, he described cases in which Ericsson is changing communication, in the realms of gaming, personal transportation, and shipping. An agreement with Maersk Line was introduced onstage.
"The implementation of this network will represent a noticeable improvement in connectivity at sea, and we look forward to exploring the benefits this will bring to Maersk Line and our customers in the future," said Mike White, President, Maersk Line Inc.
The emotional aspect of the Networked Society was highlighted with the appearance of Christopher Mikkelsen, one of the co-founders of Refugees United. Ericsson partners with United Nations High Commission for Refugees (UNHCR) and operator MTN to enable a global, secure search engine.
In his finale, Vestberg invited onstage Professor Carlo Ratti of MIT's Senseable Cities Lab to introduce a collaboration between Ericsson and MIT that will aim to reveal patterns of human behaviour by looking at volumes in mobile data traffic.
Vestberg wrapped up his CES appearance by demonstrating new technology, so-called "capacitive coupling", in which a photograph was transferred from a telephone, then hand-to-hand, through the human body, to the large screen without using radio signals.
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