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Ericsson Denies Talks on Possible Merger with Cisco

Ericsson Denies Talks on Possible Merger with Cisco Image Credit: Ericsson

Ericsson executives have denied rumors that they are in talks with Cisco, after its recent go-to-market partnership, on the potential acquisition of the company by Cisco. Last week, both the telecoms vendors have announced a global business and technology partnership that covers joint development, product reselling, and collaboration in key emerging markets. With the partnership, Ericsson and Cisco aim to create an additional $1 billion in incremental sales for each company by 2018.

The rumor started after Swedish daily Dagens Industri reported that Cisco is seeking a deal with Ericsson's board and major shareholders on a possible takeover.

"We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies", said President and CEO of Ericsson, Hans Vestberg. "The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition."

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Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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