General Electric Company

Marconi plc emerged from the restructuring of GEC in 1999, focusing on telecommunications after divesting its aerospace and defense sectors. Initially, they pursued significant acquisitions—RELTEC and FORE Systems in 1999, and Mobile Systems International in 2000—amidst the dot-com boom, investing heavily in internet infrastructure. However, the bursting of the dot-com bubble in 2001 led to financial turmoil, a 54% share price drop, and leadership changes. Restructuring in 2003 through debt-for-equity swaps aimed to stabilize the company, but by 2005, Marconi failed to secure crucial contracts like BT's 21CN program. Ericsson acquired most of Marconi's assets, leaving the remainder as Telent plc. Voluntary liquidation followed in 2006. Marconi's downfall underscores risks associated with overextending into booming industries during speculative investment periods.