More Multimedia Acquisitions for Ericsson, Says CEO

11:55 pm on March 29, 2007 | Category: Business, Corporate, Multimedia

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Swedish networking equipment giant, Ericsson, is expecting to expand its multimedia division through acquisitions, the company’s Chief Executive revealed on Thursday.

“There will be more acquisitions on the multimedia side. We do not need to take a breath just because we have made several acquisitions,” commented CEO, Carl-Henric, in a newspaper interview.

Svanberg explained that he was upbeat about future prospects for the multimedia networking sector, but noted that traditional networking equipment would remain Ericsson’s core business for at least the next five years.

“Toward the end of this period (the next five years) multimedia will really have taken off,” Svanberg said, leaving the door open to a new focus for the company.

Ericsson’s most recent acquisitions in the multimedia sector include digital broadcast systems manufacturer, Tanberg Television, and IP messaging components maker, Mobeon.

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    Edited by Jeremy Maddock