TMCnet News
Ericsson Acquires Division of Technicolor (ERIC)Mar 13, 2012 (SmarTrend(R) News Watch via COMTEX) -- Ericsson (NASDAQ:ERIC) has agreed to acquire a division of Technicolor, a French media firm for $25 million along with a possible additional $12 billion based on the revenue of the division. "As the TV industry is undergoing fundamental changes with the transition to multi-platform, on-demand television, teaming up with a trusted partner enables broadcasters to meet the increasing commercial and technological complexity and competition in the TV market" says Magnus Mandersson, Executive Vice President and Head of Business Unit Global Services, Ericsson. "We combine our service and technology leadership with strategic investments in playout operations, broadcast capability and competence." Ericsson (NASDAQ:ERIC) has potential upside of 4.7% based on a current price of $9.9 and an average consensus analyst price target of $10.37. Ericsson is currently below its 200-day moving average (MA) of $10.98 and should find support at its 50-day MA of $9.71. In the last five trading sessions, the 50-day MA has remained constant while the 200-day MA has slid 0.64%. Telefonaktiebolaget LM Ericsson develops and manufactures products for wired and mobile communications in public and private networks. The Company produces mobile telephones through its Sony Ericsson joint venture. Ericsson manufactures and installs wired and wireless communications systems, wireless microwave links, call center equipment, microelectronics, and radar systems. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |