Ericsson to acquire LHS for $417M

Ericsson is set to acquire Germany post-paid billing and CRM company LHS for $417 million in cash. The deal will enable Ericsson to facilitate both pre-paid and post-paid billing scenarios. Last year, LHS generated net income of about $10.3 million from revenues of $97 million and expects to make between $116 million and $120 million this year. The company has about 550 employees and already counts HP, IBM, LogicaCMG, Nokia Siemens, Sun Microsystems and others as partners. The combined billing offerings of Ericsson and LHS will compete with Amdocs, Comverse, Convergys, Intec, Oracle and others.

For more on the deal:
- see this press release