Ericsson bids for German firm LHS

Ericsson has made a 2.9 billion kronor ($413 billion) bid for German IT company LHS. The bid entails a 33 percent premium on the average share price for LHS over the last month.

LHS describes itself as a leading provider of telecom billing and customer care systems across the wireless, wireline, and IP telecom markets worldwide.

“Operators are quickly moving towards convergent charging and billing solutions to enhance their relationship with consumers, improve cost efficiency and limit financial risk.

“Ericsson and LHS form a strong constellation of prepaid and postpaid solutions ready to immediately capture this opportunity,” said Ericsson CEO Carl-Henric Svanberg in a statement.