Com-Net Acquires Ericsson Radio Business

Ericssonbased Com-Net Critical Communications has signed an agreement with Stockholm, Sweden-based <%=company%>, under which Com-Net will acquire Ericsson's Private Radio Systems (PRS) operations. Although the terms of the deal were not disclosed, it is slated to close within the next two weeks.

Located in Lynchburg, VA, Ericsson's PRS business develops two-way radio systems and equipment and employs more than 700 people. Once the acquisition is complete, Com-Net will combine Ericsson's products with its existing radio network solutions, and the two companies will form Com-Net Ericsson Critical Radio Systems. Along with its existing products and solutions, the new company will assume Ericsson's customer commitments and long-term servicing of current customers.

According to Ericsson PRS spokesperson Denise Woernle at Ericsson Private Radio Systems, the transition will be a smooth one, with Steve Savor becoming CEO of the new Com-Net Ericsson. No layoffs are expected to take place. In addition, Ericsson will maintain 20% equity ownership in the new company.

Edited by Meredith Lockard