Ericsson completes acquisition of Marconi assets

Stuart Corner
Wednesday, 25 January 2006 08:21

IT Industry - Deals

Ericsson has completed its acquisition of the key assets of Marconi's telecommunications business, and around 6,660 Marconi employees will join Ericsson.

Ericsson says the acquisition is effective from January 1, 2006 and the acquired businesses will consolidated into Ericsson's accounts starting with the first quarter of 2006.

Ericsson says the acquisition willl strengthen its position in the accelerating transmission segments and "expand Ericsson's platform for leadership in next generation converging networks."

Marconi Australia has been one of the company's must successful operations in recent years and is major supplier to Telstra, and others. No details on how it wil be integrated were available at press time.