logo
Share SHARE
FONT-SIZE Plus   Neg

Ericsson Closes Purchase Of BelAir Networks - Quick Facts

Ericsson (ERIC: Quote) said it has completed its acquisition of BelAir Networks, a North American carrier-grade Wi-Fi company. Ericsson added that this purchase gives it a strong carrier-grade Wi-Fi portfolio, technological expertise, IPR, and established customer contracts and relationships. The completion follows the announcement on February 21, 2012 that Ericsson had reached an agreement to buy 100 percent of the shares in BelAir Networks.

Johan Wibergh, Executive Vice President and head of business unit Networks, Ericsson noted, "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."

Also, the company said former BelAir Networks' staff would be integrated into the Ericsson group in business unit Networks over the coming months and will work under the Ericsson brand effective today.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Warren Buffett's Berkshire Hathaway is reportedly planning its first ever European bond sale of 3 billion euros to take advantage of low interest rates in the region, traversing a path taken by a range of home companies in search of cheap funding options. The move comes as the European Central Bank's bond-buying stimulus program of 60 billion euros a month is imminent. Diary products company Prairie Farms is teaming up with Just Born, the maker of marshmallow candies PEEPS, to launch PEEPS flavored milk just in time for Easter. HKBN Ltd. has reportedly raised about $750 million after the broadband service provider priced its initial public offering at the top end of the price range. Private-equity group CVC Capital Partners, an unit of Carlyle Group L.P. (CG), Singapore's sovereign-wealth fund GIC Ltd., and other shareholders...
comments powered by Disqus
Follow RTT