Ericsson acquires HyC Group: Spanish IPTV consultancy and systems integration company
Market Wire, December, 2007
Ericsson (NASDAQ: ERIC) today announced it had acquired HyC Group, a leading Spanish company in TV consultancy and systems integration with around 110 employees. The acquisition further strengthens Ericsson's position in the services and multimedia domains as a systems integrator of IPTV solutions.
IPTV is a key technology for telecom operators and service providers that aims to offer interactive and personalized broadband TV services to fixed and mobile users. With the acquisition of HyC, Ericsson further strengthens its ability to support operators and service providers in the solution design, installation, integration and operation of IPTV services.
The HyC employees will be part of the Ericsson's growing global services organization, contributing to its success.
The HyC acquisition follows Ericsson's acquisition of Tandberg Television, the world's leading provider in advanced video compression technologies, at the beginning of the year.
Hans Vestberg, Executive Vice President, Chief Financial Officer, and Head of Global Services at Ericsson, says: "Multimedia and services, including IPTV and systems integration, are two strategic areas for Ericsson. I am pleased to announce this acquisition as it will strengthen our ability to support our customers in offering attractive consumer services in a fast and efficient way. HyC's skills and experience fit perfectly with our service offerings in the TV domain and our leading systems integration offering."
Hector Prieto, HyC General Manager, says: "We are proud to be part of the Ericsson Group. Customers will benefit from the combination of Ericsson's global presence and our niche expertise in a blooming technology."
Each year, Ericsson delivers more than 1000 systems integration projects, in multivendor and multi-technology environments, to operators and enterprises. Ericsson's systems integration expertise covers multimedia services and service network, telecom management, IP-packet backbone, IP Multimedia Subsystem (IMS), satellite communications and National Security and Public Safety solutions.
Notes to editors:
Read more about Ericsson IPTV offer: http://www.ericsson.com/ericsson/press/facts_figures/doc/iptv.pdf
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
Read more at www.ericsson.com
FOR FURTHER INFORMATION, PLEASE CONTACT Ericsson Media Relations Phone: 46 8 719 6992 E-mail: press.relations@ericsson.com Ericsson Investor Relations Phone: 46 8 719 4631 E-mail: investor.relations.se@ericsson.com
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