By: SVG Staff
Tuesday, July 3, 2012 - 7:14 pm
Ericsson has announced the completion of its acquisition of the Broadcast Services Division of Technicolor. Today’s closing follows the announcement on March 13, 2012. The purchase price totals EUR 19 million and a potential earn-out based on 2015 revenues of the Broadcast Services activity of up to EUR 9 million.
“With this acquisition Ericsson has strengthened its position in the broadcast managed services market and reinforced our growth ambitions,” Magnus Mandersson, EVP and Head of Business Unit Global Services, Ericsson. “Managed services in one of the main focus areas for Ericsson and we will continue to invest and expand this area.”
Ericsson will integrate 900 new employees into the Ericsson group in business unit Global Services over the coming months and will work under the Ericsson brand as of today. Playout operations will be conducted in France, UK and Netherlands. With this acquisition Ericsson broadens its managed services offerings for media broadcasters.