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Ericsson to divest its enterprise PBX solutions to Aastra Technologies
Ericsson has entered into an agreement to divest its enterprise PBX solutions business to Aastra Technologies. The agreement involves transfer of approximately 630 employees of which some 360 are based in Sweden. The transaction is expected to close in April 2008. From now on, Ericsson will focus on providing its broad portfolio of enterprise applications directly to operators and service providers.
Ericsson's enterprise PBX solutions business is a leading provider of IP PBX, converged PBX systems and branch office solutions. The product portfolio includes communications solutions for enterprises of all sizes, mobility solutions, telephone terminals and services. Sales in 2007 amounted to approximately SEK 3 billion. The purchase price is SEK 650 million excluding net of assets and liabilities. A capital gain of approximately SEK 200 million is expected.
Ericsson has a strategic focus on telecommunication operators and service providers, hence considers its enterprise PBX solutions business to be outside its core focus. In addition, the enterprise communications industry is becoming increasingly global and is clearly gravitating toward consolidation. Therefore, Ericsson believes that the enterprise PBX solutions will add significant competence and value to Aastra Technologies, adding leading products and a significant customer base for PBX solutions. This will also be a positive step for Ericsson's enterprise customers, partners and employees, combining Ericsson's and Aastra Technologies' leading product portfolios.
Executing on the strategy for the multimedia business, Ericsson will focus on providing its broad portfolio of enterprise applications directly to operators and service providers. Strategic products from the acquisition of Netwise will also remain within Ericsson.
The agreement is subject to approvals from relevant competition authorities.
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