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Technology Stocks : Ericsson overlook?
ERIC 10.00+1.3%3:59 PM EST
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To: P2V who wrote (2957)3/22/1999 5:35:00 PM
From: P2V  Read Replies (4) of 5390
 
Ericsson / FORE / ATM !!
news.com
Wireless giant Ericsson recently increased its stake in the maker of data network
switching equipment. The investment was largely a result of Fore's lagging sales and
vulnerable position as a relatively small player in a market for networking equipment that is
now dominated by multibillion-dollar giants.

Fore experienced a noticeable spike in its trading volume last Friday, as shares jumped 2.5
to close at 17 on more than 28 million shares. That was followed by another busy day
today, as the company's stock soared 10 percent to close at 18.6875 on more than 16
million shares.

Ericsson has made it clear it intends to be one among a
number of international telecommunications companies
attempting to expand their role on the Internet by latching
onto the data equipment market through acquisitions.

Rumors continue to circulate that Ericsson turned its
attention to Fore after being outbid for Redstone
Communications last week by another technology giant,
Siemens.

Ericsson has been quiet, while the likes of Siemens and
Alcatel have bolstered their presence in the data networking
market in recent months.

Ericsson executives have made no secret of their interest in
data networking companies. "We certainly are looking," a
spokeswoman said.

A Fore spokesman declined comment on the acquisition rumors.
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