Aeris To Acquire The IoT Business From Ericsson

RTTNews | 694 дней спустя

(RTTNews) - Ericsson (ERIC) and Aeris Communications, a leading provider of Internet of Things (IoT) solutions, on Wednesday have signed an agreement for the transfer of Ericsson's IoT Accelerator and Connected Vehicle Cloud businesses.

Ericsson IoT Accelerator is used by over 9,000 enterprises to manage more than 95 million connected devices with 22 million eSIM connections globally.

Connected Vehicle Cloud is a connected car platform, with frontrunners in automotive IoT using it to connect six million vehicles and counting across 180 countries.

Founded in 1996, Aeris is an expert in the IoT field, providing businesses with intelligent IoT cellular connectivity.

Together, Aeris' and Ericsson's IoT platforms will connect over 100 million IoT devices worldwide, covering 190 countries.

Through the transaction, Aeris will become a market leader in IoT, generate strong market synergies, and further simplify IoT for 9,400 enterprises by providing them with a global, feature rich platform with secure, reliable, and intelligent IoT solutions.

With the cellular IoT market being a rather fragmented sector, a consolidation of two industry leading players is expected to accelerate the IoT market overall. IoT will be a fundamental and growing part of the 4G and 5G market.

The transaction includes the transfer of Ericsson's assets and employees in its IoT business to Aeris. In addition, Ericsson intends to support Aeris with transition services and will acquire a small stake in the company. The transaction is expected to close in the first quarter of 2023.

The IoT business will be transferred to Segment Other in the first quarter of 2023 in anticipation of closing of the transaction.

Тэгов: ERIC

Ericsson Turns To Q3 Profit, Sees Signs Of Stabilizing Market; Stock Climbs

Shares of LM Ericsson were gaining more than 8 percent in the early morning trading in Stockholm as well as in pre-market activity on the Nasdaq after the Swedish telecom major reported a profit in its third quarter, compared to prior year's loss, even as sales declined. Looking ahead, Borje Ekholm, President and CEO, said, "We see increasing customer momentum around programmable networks that...

RTTNews | 16 дней спустя

Ericsson Q2 Net Loss Widens, While EBITA, Margin Climb; Stock Up

Shares of LM Ericsson were gaining more than 9 percent in the morning trading in Stockholm as well as around 6 percent in pre-market activity on the Nasdaq after the Swedish telecom major reported Friday significantly higher EBITA, a key earnings metric, in its second quarter. Meanwhile, net loss was sharply wider on hefty impairment charge as well as weak sales.

RTTNews | 111 дней спустя

Ericsson Q1 Profit Surges, Sees Sales To Stabilize In H2; Stock Climbs

Shares of LM Ericsson were gaining more than 6 percent in the morning trading in Stockholm as well as around 8 percent in pre-market activity on the Nasdaq after the Swedish telecom major reported Tuesday significantly higher profit in its first quarter. Meanwhile, net sales were weak hit mainly by lower Networks sales. Further, the company said it expects sales to stabilize during the second half

RTTNews | 198 дней спустя

Ericsson Announces Headcount Reduction Of Approximately 1,200 In Sweden

LM Ericsson (ERIC) announced Monday proposed staff reductions in Sweden as it expects a challenging mobile networks market in 2024, with further volume contraction.

RTTNews | 219 дней спустя

Global 5G Subscriptions To Top 5.3 Bln By 2029-End: Ericsson Mobility Report

Global 5G subscriptions are forecast to increase more than 330 percent over the next six years to reach at 5.3 billion, with 85 percent of the global population to have 5G coverage access, according to Ericsson Mobility Report. The November 2023 edition of the report, which is key industry reference source for network data, performance, statistics, and forecasts, estimates that new 5G...

RTTNews | 335 дней спустя

Ericsson Slips To Q3 Loss, Warns On Uncertain FY24; Stock Down

Shares of LM Ericsson were losing around 9 percent in the morning trading in Stockholm after the Swedish telecom company reported Tuesday a hefty loss in its third quarter, compared to prior year's profit, hit by one-time charge related to Vonage acquisition, as well as weak sales. Looking ahead, the company expects the current macroeconomic uncertainty to persist into 2024.

RTTNews | 380 дней спустя

Ericsson Stock Down On Q2 Loss; Backs FY View

Shares of LM Ericsson were losing around 8 percent in the morning trading in Sweden as well as around 9 percent in pre-market activity on Nasdaq after the networking and telecom major reported Friday a loss in its second quarter, compared to prior year's profit, on restructuring charges and weak organic sales. Ericsson further said it remains focused on reaching the lower end of the long term EBIT

RTTNews | 475 дней спустя

Ericsson Q1 Profit Down, Sees Lower End Of FY24 EBITA View; Stock Dips

Shares of LM Ericsson were losing around 6 percent in the morning trading in Sweden as well as around 4 percent in pre-market activity on Nasdaq after the telecom major reported Tuesday weak profit in its first quarter amid flat organic sales, while total sales increased in double-digit rates. Ericsson added that it is on track to reach the lower end of the long term EBITA target range...

RTTNews | 562 дней спустя

EURUSD	1.08517	GBPUSD	1.29735	AUDUSD	0.65758
USDJPY	152.302	USDCAD	1.39175	USDCHF	0.8659