Ericsson Media Solutions will now be known as MediaKind, as the Swedish vendor looks to revamp the unit following recent uncertainty.
In a press event held in London today (10 July), the company unveiled a new name and brand identity for the unit, which is effective immediately.
MediaKind is “designed to embody the concept that media should inspire and unite humankind”, said the company.
Ericsson held on to a 49 per cent stake in its media business at the start of this year, following a review of its options for the unit in 2017, with One Equity Partners becoming the majority owner.
The vendor said the rebranded MediaKind would now look to lead “the future of global media technology” and be the “first choice” for service providers, operators, content owners and broadcasters looking to create and deliver immersive media experiences.
Angel Ruiz will head up the unit as CEO: he said the company was “uniquely positioned to help shape and lead the future of global media technology”.
As part of the unveiling, the company also announced a new management team consisting of 11 executives, including Ruiz.
Ericsson said MediaKind has a customer base of more than 900, consisting of cable, satellite, telecoms service providers and broadcasters around the world.
Responding to the news, Paolo Pescatore, technology, media and telecoms analyst, said the rebrand represents a “new start” for the business following recent struggles, but warned there will be no more second chances.
“Arguably, the unit should be well placed to exploit the opportunities in convergence underpinned by the growing demand for video usage. The equity firm can ensure a commercially minded focus, while it can still rely on Ericsson’s vast technical expertise and huge connections to thrive,” he said.