Ericsson Buys Remaining Stake in Mobeon

Press Release - March 18, 2007

Swedish telecom equipment maker, Ericsson, has announced plans to acquire the 79% of IP-messaging firm, Mobeon, that it does not already own, in hopes of strengthening its digital multimedia strategy.

Ericsson already holds a 21% share in Mobeon, which employs 130 people, and is a world leader in IP-messaging components for fixed and mobile networks. The purchase price of the remaining stake was not disclosed.

Mobeon is known for producing the central component of Ericsson’s Messaging over IP (MoIP) product, a voice and video mail solution used by telecom carriers around the globe.

“This deal represents yet another step in Ericsson’s strategy to become the leader in multimedia,” the telecom gear maker said in a statement.