Ericsson Completes Acquisition of UK Based Media Services Supplier
Published on: 12th May 2014
Note -- this news article is more than a year old.
Ericsson has completed a previously announce acquisition of Red Bee Media, a UK based media services company, from its private equity owners.
Ericsson announced its intention to acquire Red Bee Media last July, but it took the UK's Competition Commission until this March to formally clear the acquisition.
Now that the deal has completed, Ericsson has gained 1,500 employees as well as media services and operations facilities in the UK, France, Germany, Spain and Australia. This will further strengthen Ericsson's broadcast services business, which began in 2007 with the signing of the first broadcast services deal with C More (formerly Canal+) in the Nordic region.
Magnus Mandersson, Executive Vice President and Head of Business Unit Global Services at Ericsson, says: "We now have more than 5,000 employees in the UK and close to one-third of them work in broadcast services. As a result, the UK is now a major global media hub for Ericsson."
Financial terms were not disclosed.