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Technology Stocks : Cabletron Systems (CS: NYSE)
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To: polarisnh who wrote (5863)4/14/1999 9:57:00 AM
From: polarisnh  Read Replies (1) of 8358
 
It looks like another one of Cabletron's suitors has found better looking marriage partners.

Ericsson spends $496 mln on Internet acquisitions

STOCKHOLM, April 13 (Reuters) - Swedish telecoms equipment maker Ericsson said on Tuesday it had bought U.S. Internet router Torrent Networking Technologies Corp for $450 million in cash as part of its
strategy to move into the next generation of Internet carriers.

Ericsson said it had also acquired Touchwave Inc, Silicon Valley-based provider of business IP (Internet Protocol) telephony solutions for $46 million in cash.

''The acquisition moves Ericsson squarely into the IP playing field and will have a substantial impact on our ability to provide a complete data networking solution,'' Ericsson Chief Executive Sven-Christer Nilsson said in a statement.

''This is in line with our strategy to offer fully integrated capabilities for converged wireless and wireline voice and data networks.''

Ericsson is betting that the explosive growth in Internet and wireless subscribers will lead to future growth in Internet IP products, also
known as Internet-related network solutions, which were linked to mobile technology.

Maryland, U.S.-based Torrent Networking Technologies is a leading innovator of Internet-class routing solutions for operators and
service provider networks, Ericsson said.

Ericsson's planned to use TouchWave's technology and expertise to accelerate and enhance existing developments in IP telephony to
create a new product line of all-in-one network products supporting voice, data and video services.

Ericsson shares were up 6.5 crowns at 214 at 1045 GMT in a slightly positive market.
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