Ericsson buys 1.15 billion USD for Communications service provider Telcordia

Sina Science and technology news Beijing time of June 14, Ericsson announced in Tuesday, will be 1.15 billion U.S. dollars to acquire American communications software and service provider Telcordia. "As more and more devices are connected to the Internet, the importance of operational and business support systems is growing," Ericsson CEO Vestberg Hans Vestberg said in a statement. "With Ericsson's leadership in the global communications market and Telcordia's experience in addressing the most complex communications challenges," Telcordia CEO Mark Grinquist Mark Greenquist said in a statement. The combination of two companies will bring greater benefits to customers. "Telcordia's name before 1999 was bellcore,2005 by private-equity firms Providence Equity and Warburg Pincus, which had a revenue of $739 million last year. By acquiring Telcordia, Ericsson will be involved in the communications software and services market. (Li Ming)