Ericsson Buys Marconi
The British telecoms equipment maker Marconi has agreed to sell most of its assets and its name to Sweden’s Ericsson.
Under the 2 billion dollar deal, what is left of Marconi would be renamed Telent. The venerable company was founded by the inventor of radio, Guglielmo Marconi.
Ericsson says the deal to buy 75 percent of Marconi’s turnover will help it expand its market for converging fixed and mobile communications, such as telephony over the Internet.