All shares in LHS acquired
· Remaining minority shareholders have sold their shares
The remaining minority shareholders in LHS AG (Deutsche Börse: LHS400) have sold their shares to Ericsson (NASDAQ:ERIC) through a squeeze-out process. This process was resolved at an extra-ordinary shareholders' meeting on December 21, 2009. As of February 9, 2010, Ericsson is registered as owner of 100% of the shares in LHS AG and de-listing from Deutsche Börse, Frankfurt am Main, is soon to be finalized.
LHS is a leading billing and customer care software and services company. With the acquisition Ericsson combines its prepaid solutions with LHS postpaid offerings and provides a fully integrated convergent charging and billing solution for mobile and fixed operators. There are now 1 billion subscribers charged and billed using Ericsson and LHS solutions.
Notes to editors:
Ericsson announces cash offer to acquire LHS
Ericsson acquires 84 percent of LHS shares
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Ericsson is the world's leading provider of technology and services to telecom operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and provides support for networks with over 2 billion subscribers and has the leading position in managed services. The company's portfolio comprises mobile and fixed network infrastructure, telecom services, software, broadband and multimedia solutions for operators, enterprises and the media industry. The Sony Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in an all-communicating world" through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 80,000 employees generated revenue of SEK 206.5 billion (USD 27.1 billion) in 2009. Founded in 1876 with the headquarters in Stockholm, Sweden, Ericsson is listed on OMX NASDAQ, Stockholm and NASDAQ New York.
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