Ericsson Takes hSo Stake

Ericsson acquires Marconi's 15.3% interest in managed IT services provider hSo

March 8, 2006

1 Min Read

STOCKHOLM -- Managed IT services provider hSo is pleased to welcome Ericsson, the world-leading provider of telecommunications equipment and related services to mobile and fixed network operators, as a major shareholder. As part of the recent acquisition of the telecommunications arm of Marconi Corporation plc (now renamed Telent plc), Ericsson negotiated to acquire Marconi's 15.3% of the issued share capital of hSo.

Chris Evans, Managing Director of hSo said "I would like to thank Telent for their support throughout the formative development of hSo. The creation of hSo would not have been possible without their support both financial and commercial. On behalf of all of our stakeholders I thank them and wish them well in the future."

Evans added "Ericsson is a full service telecommunications equipment and services provider and we hope to use their products and expertise to develop and offer further managed services to our customers and target markets. This comes at an exciting time in the development of hSo, and having Ericsson as a shareholder can only improve our future prospects."

HighSpeed Office Ltd. (hSo)

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