Telecom equipment company Ericsson today said it has acquired additional shares in LG-Ericsson taking its holding to 75%.
"Before the purchase, Ericsson held 50% of the shares plus one share. After the share purchase, Ericsson holds 75% of the shares in LG-Ericsson," Ericsson said in a statement.
LG-Ericsson is a joint venture between LG Electronics and Ericsson in which Ericsson acquired Nortel's part of the company in July 2010.
The company provides customised solutions for operators and enterprises with a portfolio of mobile and fixed network infrastructure, telecom services, software, broadband, voice and data network solutions for enterprises.
LG-Ericsson has 1,300 employees and is headquartered in Seoul, Republic of Korea. The joint venture is fully consolidated by Ericsson since the acquisition in 2010.
