Ericsson completes acquisition of smart grid communications provider
•Ambient's innovative platform enables utilities to deploy and integrate multiple smart grid applications and technologies, in parallel on a single communications infrastructure
•As part of Ericsson, Ambient's platform will help utilities to maximize their investments in smart grids
•Ambient will be integrated into Ericsson's Global Services organization, which employs 64,000 services professionals based in 180 countries
Ericsson (NASDAQ: ERIC) today announced it has completed the acquisition of Ambient Corporation, a US-based award-winning provider of smart grid communications technology for utilities. Ambient's innovative platform enables utilities to deploy and integrate multiple smart grid applications and technologies, in parallel on a single communications infrastructure. The acquisition increases Ericsson's ability to help utilities maximize their investments in smart grids.
Ambient also provides product and software maintenance and implementation services, as well as a variety of smart grid consulting services related to product development, network management, and smart grid architecture and deployment.
Ambient will be integrated into Ericsson's Global Services organization, which employs 64,000 services professionals based in 180 countries and speaking more than 100 languages. Around 16,000 of these employees are Consulting and Systems Integration (CSI) professionals who deliver more than 1,500 CSI projects in multivendor and multi-technology environments every year.
My investment in Ambient has not paid off. I lost money on Ambient, but that does not make me want to hate others, or hope that someone else fails. Life goes on, and I wish the best for everyone. Even the 24/7 Bashers.
No idea why they are here (still) but wish them the best in life.
Glad to see Ambient technology continue on, and the men and women who work there keep their jobs. Congratulations to all at AMBIENT!
“With a stronger balance sheet behind it, it will have a better chance to penetrate the market.”
October 1, 2014
Ericsson also agreed to hire Ambient’s current employees and maintain all of them at their current salaries as part of its agreement, though the company's CEO and COO may see their compensation reduced, Wayne Weitz, managing director of Gavin/Solmonese LLC, the firm hired as financial advisor for Ambient's bankruptcy proceeding, told us in an August interview.
“Ambient has some wonderful intellectual property and a fantastic R&D team, but it doesn't have the depth of balance sheet or cash to weather any kind of downturn or transition, or to be able to take advantage of opportunities with customers,” he said. “With a stronger balance sheet behind it, it will have a better chance to penetrate the market.”
basherflake please post your fear and doubt on the ERICSSON message board. They are the ones that just spent millions on Ambient, and are taking the technology global.