Ericsson (ERIC +1.3%) grows its services exposure by acquiring Red Bee Media, a 1.5K-employee...
Jul 1 2013, 13:33 ET
Ericsson (ERIC +1.3%) grows its services exposure by acquiring Red Bee Media, a 1.5K-employee provider of media/content services based out of the U.K. Ericsson asserts Red Bee, whose services include production, marketing, syndication, and much else, strengthens a broadcast services unit expanded last year via the Technicolor deal, and (given huge mobile video growth) also brings mobile synergies. The purchase comes 2 months after Ericsson struck a deal to buy Microsoft's Mediaroom IPTV platform unit, and 8 months after Ericsson forecast stronger CAGRs for telecom services and support solutions than for telecom equipment. Deal terms are undisclosed.