Ericsson buys additional shares in LG-Ericsson, increases ownership to 75%

Telecom Lead Europe: Ericsson announced the acquisition
of additional shares in LG-Ericsson, increasing Ericsson’s ownership from 50
percent plus one share to 75 percent.


Earlier in 2010, Ericsson entered into a share purchase
agreement to acquire Nortel’s majority shareholding (50%+1 share) in LG-Nortel,
the joint venture of LG Electronics and Nortel Networks.


This acquisition was aimed at expanding Ericsson’s
footprint in the Korean market and providing Ericsson with a well established
sales channel and strong R&D capability in the country. Furthermore, the
acquisition will provide Ericsson with an industrial base and the ability to
build new customer relationships.


LG-Ericsson provides customized solutions for
operators and enterprises with a portfolio of mobile and fixed network
infrastructure, telecom services, software, broadband, voice and data network
solutions for enterprises.


The company has 1,300 employees and is headquartered
in Seoul, Republic of Korea. The joint venture is fully
consolidated by Ericsson since the acquisition in 2010.


 LG-Ericsson launches solutions to support voice, video and data
communications management needs


Earlier this year, LG-Ericsson USA has launched new
business communications solutions to support voice, video and data
communications management needs of dynamic business.


The LG-Ericsson iPECS-MG Business-Enabled Communications
System, which is available through LG-Ericsson’s trained and certified
resellers, delivers the functionality of a traditional PBX with the
addition of productivity-enhancing features like Unified Communications for
conferencing, remote and roaming user support and scalability to deliver a
seamless communication experience.


“LG-Ericsson has a long hi”

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