Ericsson to pay $285 million for Internet firm ACC

Article Abstract:

Telefon AB L.M. Ericsson of Sweden has agreed to acquire Advanced Computer Communication, an Internet-technology vendor in the US and a unit of Newbridge Networks Corp. of Canada, for $285 million in cash. Sven-Christer Nisson, president and CEO of Ericsson, said the purchase is part of the company's strategy to acquire several small Internet-technology companies by the end of 1998 to become a leader in the telecommunications industry. The Internet companies to be acquired by Ericsson will complement the company's new mobile phones and products that will feature Internet-related services, such as online access to the World Wide Web and e-mail capabilities.

Comment:

Has agreed to acquire Advanced Computer Communication, a unit of Newbridge Networks, for $285 million in cash

United States, Canada, On-Line Information Services, Bsns Videotex Svcs ex Database, Online information services, Newbridge Networks Corp., Business information services, Telefonaktiebolaget LM Ericsson, Article, Advanced Computer Communications

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DnB agrees to acquire Postbanken

Article Abstract:

Den norske Bank ASA of Norway will buy state-owned Postbanken for 4.5 million kroner, or US$582.3 million. DnB will own 82.3% of the merged entity, and Postbanken will own 17.7%. The government of Norway owns 60.6% of DnB, and will control 60.6% of the merged DnB/Postbanken, but plans to reduce its stake to 33.3% by the end of 2000. Analysts see the merger announcement as the beginning of a banking consolidation trend in Norway, which has over 80 banks for 4.4 million people.

Comment:

Den norske Bank ASA of Norway will acquire state-owned Postbanken for US$582.3 mil

Commercial Banks, Commercial Banking, Norway, Banking industry, Mergers, acquisitions and divestments, Abstract, Postbanken, Den norske Bank ASA

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