Ericsson denies Cisco’s takeover interest

Ericsson (NASDAQ:ERIC) has denied recent speculation in the press and financial markets regarding an interest by Cisco (NASDAQ:CSCO) to acquire Ericsson.

On November 9, 2015, the two companies announced a global business and technology partnership to create the networks of the future. The partnership announcement was supported by multiple agreements that include commitments to network transformation through reference architectures and joint development, systems-based management and control, a broad reseller agreement, and collaboration in key emerging market segments.

“We note that there are rumors 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.” President and CEO and member of the Board of Directors, Hans Vestberg said.