Ericsson completes Marconi purchase

Jan. 24, 2006 at 10:43 AM

STOCKHOLM, Sweden, Jan. 24 (UPI) -- Ericsson said Tuesday it has completed acquiring all key assets of Marconi's telecommunications business.

"The Marconi businesses are an excellent fit for Ericsson and we are delighted to welcome about 6,660 Marconi employees to Ericsson. This is a powerful combination that will bring value to Ericsson as well as our customers who will substantially benefit from the combination of the two companies," Carl-Henric Svanberg, chief executive of Ericsson, said in a news release.

Ericsson announced it would buy out Marconi's key business last October.

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