Ericsson denies Cisco takeover talk
16 November 2015 |
Ericsson has moved to distance itself from speculation linking it with a merger with Cisco.
The two companies entered a major strategic partnership last week which included a global service partner agreement as well as a broad reseller agreement.
This led to speculation that Ericsson was the subject of a takeover bid from Cisco.
"We note that there are rumours in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies. The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition,” said Ericsson president and CEO Hans Vestberg.
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