Ericsson's (NASDAQ: ERIC) President and CEO Hans Vestberg took a moment to squash rumors that Cisco wants to purchase the company following a new partnership the pair announced for future technology developments.
Vestberg, according to a FierceWirelessEurope report, said that the companies did not talk about merger or acquisition during a year of negotiations that led to their partnership announcement on Nov. 9.
"We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies," Vestberg said. "The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or acquisition."
FierceWirelessEurope has this article.