Ambient Corporation has gone bankrupt in the past year due to their inability to sell their main products to anyone other than their biggest customer, Duke Energy Corporation. Ambient fully depended on their business and when Duke stopped buying, Ambient lost too much money. This caused their Chapter 11 bankruptcy. Ericsson saw this as an opportunity to buy up a company and expand their technology base.
Ambient Corporation was aiding the Duke Energy Corporation with smart grid technology for utilities. Ericsson will benefit from this acquisition because they will now increase smart grid investments for their company. Ericsson has chosen to weave Ambient’s technology into their Global Services organization. This sector allots for a high number of job positions spread across almost 200 countries. Fortunately for Ambient Corporation, Ericsson has decided to keep Ambient’s employees with the company.
Ericsson can now start working more with smart grid communication and technology. This $7.5 million attainment of Ambient Corporation provides a new area to create innovations. New technology allows for more research to be done and more discoveries to be made. Ericsson is a bigger, more global, and more stable company that is more capable of selling smart grid technology than Ambient Corporation was. They were a small company of 33 employees that operate out of Newton, Massachusetts – a small city about 30 minutes outside of Boston. Ericsson is based in Sweden and therefore already has a wider international network for business.
Launch 3 Telecom buys and sells products manufactured by Ericsson and other major companies within the telecommunications industry. Launch 3 provides a wide variety of products that are globally used. If interested in buying or selling Ericsson products, please contact Launch 3 Telecom at 877-878-9134 or email us at firstname.lastname@example.org.