Ericsson acquisition of ACC now finalized
Ericsson announced today that it has completed its acquisition of Advanced Computer Communications (ACC), the California-based leading vendor of integrated, carrier-class remote access and internetworking products. The intention to buy ACC for a total of approximately USD 285 million (SEK 2,220 million) in cash was first made public on September 9, when Ericsson announced signing of a definitive agreement for the acquisition.
Organizationally, ACC is being integrated into Ericsson's Datacom Networks and IP Services business unit, where it will become part of the Access product unit. Mr. Bert Whyte, ACC's current Chief Executive Officer, is expected to be appointed as head of the product unit.
"Our decision to acquire ACC was very well received by financial and industry analysts, employees and customers, who recognized that we were buying ACC because of their vision and their leadership in IP-based technologies and remote access," said Mr. Michael Thurk, Executive Vice President and General Manager of Ericsson's business unit Datacom Networks and IP Services.
"As we proceed with integrating ACC into the Ericsson group, we will be paying close attention to giving ACC a great deal of independence and initiative so that all parties can realize the full potential of the synergies between our two companies. In this regard, I am especially pleased that Bert Whyte is staying on to lead the new Access product unit."
The acquisition of ACC is in line with Ericsson's "string of pearls" strategy of acquiring primarily small to medium-sized companies to strengthen their presence in data networking. The value to Ericsson extends far beyond the stand-alone remote access market. ACC technology and IP access capability is an important component of Ericsson's current mobile and fixed Telecom solutions. Ericsson also plans to apply ACC capabilities to its carrier-class, integrated voice and data enterprise solutions and use it to build the next generation of mobile networks, which will largely be based on IP.
Ericsson is the leading provider in the new telecoms world, with communications solutions that combine telecom and datacom technologies with the freedom of mobility for the user. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for its customers - network operators, service providers, enterprises and consumers - the world over.
Please visit Ericsson's Press Room at: ericsson.se
FOR FURTHER INFORMATION, PLEASE CONTACT
Lars Östlund, Press Relations Manager Ericsson Business Area Infocom Systems Phone: + 46 8 681 2656, or + 46 70 326 2656 e-mail: lars.ostlund@etx.ericsson.se
Lisa Aviani, Press Relations Manager Datacom Access
Business Unit Datacom Networks and IP Services Phone: +1 805 961 0628
e-mail: laviani@acc.com
|
