Ericsson completes acquisition of BelAir Networks
- Ericsson acquires 100% stake of BelAir Networks
- BelAir Networks goes under Ericsson brand effective today
- Ericsson committed to support BelAir Networks' customers
Ericsson (NASDAQ:ERIC) today announces the completion of its acquisition of BelAir Networks, a North American carrier-grade Wi-Fi company. This acquisition gives Ericsson a strong carrier-grade Wi-Fi portfolio, technological expertise, IPR, and established customer contracts and relationships.
Today's closing follows the announcement on February 21, 2012 that Ericsson had entered into an agreement to acquire 100 percent of the shares in BelAir Networks.
"We are gaining BelAir Networks' leading position in carrier-grade Wi-Fi equipment both in terms of installed base and product portfolio. By integrating BelAir Networks' talented people and these new assets into Ericsson's mobile infrastructure leadership, we will accelerate the integration of Wi-Fi and cellular technologies and strengthen our heterogeneous network (hetnet) offering," said Johan Wibergh, Executive Vice President and head of business unit Networks, Ericsson.
"We welcome BelAir Networks' 120 employees to Ericsson. Together we can deliver the industry's first integrated Wi-Fi cellular offering to Ericsson's global customer base in 180 countries, to enhance consumers' mobile broadband experience," continued Wibergh.
The former BelAir Networks' staff will be integrated into the Ericsson group in business unit Networks over the coming months and will work under the Ericsson brand effective today. Ericsson is committed to ongoing evolution of BelAir Networks' former customer networks and the assurance of a seamless business transition.
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Ericsson is the world's leading provider of communications technology and services. We are enabling the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
Our offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today more than 40 percent of the world's mobile traffic goes through Ericsson networks and we support customers' networks servicing more than 2 billion subscribers.
We operate in 180 countries and employ more than 100,000 people. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2011 the company had revenues of SEK 226,9 billion (USD 35.0 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.
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