From: Jean-Luc ABAZIOU
President of Ericsson IPI
To: Whom it may concern
Torrent Networking Technology was a hi-tech start-up in the Internet Infrastructure space that was acquired in 1999 by Ericsson for $ 450M. This company, started with 4 employees in 1996, has become a very successful division of Ericsson with 300 employees thanks to the outstanding effort that Ericsson produced to make this acquisition and integration a success. Prior to the acquisition, I was President and CEO of Torrent and I am at present the General Manager of the same entity within Ericsson.
Dennis was one of the key executives representing Ericsson during the acquisition negotiation. During that critical phase, after interviewing all key employees and executives at Torrent Networking Technology, he put in place the employment contracts and defined the management structure of the newly acquired company.
This acquisition took effect at a time when it was extremely difficult to keep and find talent in the highly competive data communicaitons industry. At the same time the main asset of such small companies is its employees. Dennis Fitzgerald, Vice President of Human Resources for the acquiring Ericsson Division (DNIP), was tasked by Ericsson corporate to facilitate and manage our integration into the global Ericsson business process.
Immediately after the acquisition, Dennis created and led the “Torrent” integration steering committee that monitored and guided the integration phase. As a result of Dennis Fitzgerald’s expertise and professionalism, the acquisition of Torrent by Ericsson, is one of the few in that hi-tech space that succeeded in the United States which involved a merger of a small start-up company into a much bigger and more traditional Telecom company. Not only was Torrent able to kept its critical employees after the acquisition, but, in addition, the new entity was able to continue to hire additional talent and motivate the employees to become a ‘best in class’ work force. The company has grown by a factor of 4 in less than 2 years thanks to Dennis’s effective management, motivation and incentive tools that he promoted within Torrent and Ericsson.
Over the past 3 years several acquisitions took place in the Internet Infrastructure space, very few succeeded because of lack of attention and effort put in the integration phase. Dennis Fitzgerald is one of the few individuals who can pull it together with his ability to understand the parties from a human perspective while at the same time keep a great focus on the business requirements.
Our organization is now fully integrated in Ericsson and the entire process was performed very efficiently and has been well received by the employees in the company. I highly recommend Dennis Fitzgerald for his knowledge of the business process and his human resource management skills.
Copyright © 2002 - 2004 Acquisition Works, Inc. All Rights Reserved.