Mergers and Acquistions News
Categories: Telecoms
March 23rd 2009, 17:41PM
Ericsson is to divest its TEMS-branded products business, which comprises of tools for air interface monitoring and radio network planning, to the communications firm Ascom.
The purchase price is 190 million Swiss francs (£155 million), exclusive of net assets and liabilities.
As part of the agreement, 300 Ericsson employees will transfer to Ascom, of which 180 are currently based in Sweden.
TEMS enables planning, implementation and optimisation for network providers and the service is already used by the world's top twenty wireless firms.
Ericsson says the divestment will allow them to refine its portfolio and focus more purely on its services business, as holding onto TEMS has only "limited" strategic value.
For Ascom, the acquisition brings an industry recognised product and sizeable customer base to the company.
Ericsson this month announced it had been selected by China Unicom to supply networks and services for 15 Chinese provinces, giving 3G access to millions of Chinese mobile users.
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