Ericsson Press Releases

Ericsson's acquisition of key assets of Marconi completed on January 23

Date: Tuesday, January 24 2006
 

All conditions for Ericsson (NASDAQ: ERICY) to acquire key assets of
Marconi Corporation plc's telecommunications business have been
fulfilled and the transaction was completed on January 23, 2006.
 
On October 25, 2005 Ericsson announced that it had reached an
agreement with Marconi to acquire parts of Marconi's
telecommunications business that are strategically important to
Ericsson. The acquisition strengthens Ericsson's position in the
accelerating transmission segments and expands Ericsson's platform
for leadership in next generation converging networks.
 
Carl-Henric Svanberg, President and CEO of Ericsson, said: "The
Marconi businesses are an excellent fit for Ericsson and we are
delighted to welcome about 6,660 Marconi employees to Ericsson. This
is a powerful combination that will bring value to Ericsson as well
as our customers who will substantially benefit from the combination
of the two companies."
 
The acquisition is effective as per January 1, 2006 and the acquired
businesses are to be consolidated into Ericsson's accounts starting
with the first quarter of 2006.
 
Ericsson is shaping the future of Mobile and Broadband Internet
communications through its continuous technology leadership.
Providing innovative solutions in more than 140 countries, Ericsson
is helping to create the most powerful communication companies in the
 world.
 
 
FOR FURTHER INFORMATION, PLEASE CONTACT
 Media
Ericsson Media Relations
Phone: +46 8 719 6992
E-mail: press.relations@ericsson.com
 
 Investors
Gary Pinkham, Vice President, investor relations
Phone: +46 8 719 0000, mobile +46 730 371 371
E-mail: investor.relations@ericsson.com