Ericsson: sells power module division.
(CercleFinance.com) - Ericsson has signed an agreement with US engineering group Flex to divest its Ericsson Power Modules (EPM) division, which designs power supply products for communications equipment.
The transaction includes Shanghai Ericsson Electronics Corporation, a manufacturing site in China, and business assets in Sweden. Over 300 employees and consultants are expected to transfer to Flex Power.
Ericsson says the divestment is in line with its focused business strategy presented in March, intended to strengthen its core business and portfolio areas (networks, digital services and IoT).
The transaction is scheduled to be closed in the third quarter.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The transaction includes Shanghai Ericsson Electronics Corporation, a manufacturing site in China, and business assets in Sweden. Over 300 employees and consultants are expected to transfer to Flex Power.
Ericsson says the divestment is in line with its focused business strategy presented in March, intended to strengthen its core business and portfolio areas (networks, digital services and IoT).
The transaction is scheduled to be closed in the third quarter.
Copyright (c) 2017 CercleFinance.com. All rights reserved.