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Ericsson (ERIC) to Provide Captioning Services to ABC, SBS

Wireless equipment company Ericsson ERIC inked multi-year access services contracts with Australian public service broadcasters, ABC and SBS, strengthening its position as a leading provider of access services in the country.

Per Ericsson’s new contract with ABC, the former will deliver live and file-based captioning across the television networks of ABC, ABC2, ABC3 and ABC News 24.

Also, Ericsson extended its partnership with SBS by signing a new captioning contract to provide both live and file-based captions for SBS TV, for an additional three years.

Ericsson is committed to deliver the best services to its clients, and its continued investment in technology and innovation reflects the same. Its established capabilities and technical innovation enable the company to create superior captioning standards, with improved accuracy and lower latency, across all platforms.

Ericsson is one of the leading providers of closed captioning services in the world, and boasts a strong presence in Australia, the U.K., Germany, France, the Netherlands, Spain and the U.S.

The company is also the largest provider of TV audio description as well as sign-language translation, globally.

Its real-time platform uses newsroom integration, speech-to-text and rapid offline content preparation in order to support live captioning in a variety of languages for broadcasters. Ericsson’s system enables multiple captioners to deliver real-time services while maximizing re-use of the caption data after broadcast. Major broadcast clients across the world employ Ericsson’s platform to deliver live captioning services.

Ericsson also signed a multi-year contract with Australia’s leading 24-hour multi-channel, multi-platform news service provider ANC in November. The contract called for Ericsson to provide live captioning services to Sky News Live and Sky News Business.

Ericsson is a dominant provider of communication networks, telecom services and support solutions, and is keen on fortifying its foothold as an ICT (Information and Communications Technology) solutions provider.

We believe that the new contracts will not only help strengthen Ericsson’s live captioning business in Australia, but also boost its brand value in the global wireless equipment market.

Ericsson presently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space that investors can consider are Motorola Solutions, Inc. MSI, Sonus Networks, Inc. SONS and ARC Group Worldwide, Inc. ARCW. While Motorola sports a Zacks Rank #1 (Strong Buy), Sonus and ARC Group both hold a Zacks Rank #2 (Buy).

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ERICSSON LM ADR (ERIC): Free Stock Analysis Report
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