Ericsson acquires HyC Group, Spanish IPTV consultancy and systems integration company

December 20, 2007

1 Min Read

STOCKHOLM -- 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."

Ericsson AB (Nasdaq: ERIC)

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