After this morning’s news that my company is to have most of it’s assetts (including me) sold to Ericsson we’ve had a briefing from one of our bigwigs. He detailed most of what has been agreed and what is most likely to happen.
Naturally, this deal has to be agreed by the shareholders and there are probably one or two sticky patches to get through before it’s complete. Once it’s all done (probably early in the new year) there will be a wholesale transfer of people and projects to Ericsson where I’ll no doubt have to change all my stationery. I’ve already been scribbling out all the “Marconi” motifs on my notepad and writing in “Ericsson”.
This whole thing could very well turn out to be a very good move for both companies. What’s left of Marconi will be called “telent” and that’ll be mostly a services-based company. Apparently that’s actually one of the profitable parts of our current company and should be one of the biggest players in the country in that field. Ericsson will also benefit greatly from our Optical Networking portfolio (the stuff I work on) and as they are already one of the biggest electronics firms out there they’ll be able to compete in a wider scope with some of the other big names, such as Alcatel.
Hopefully the R&D side of things will survive most of the job cuts (me again!). We’ll see. Either way things are looking a bit rosier this afternoon. I’m feeling positive about the whole thing.