Ericsson to Buy IT Service Business in China
March 16 2015 - 4:21PM
Dow Jones News
By Juhana Rossi
Swedish network technology supplier Ericsson AB (ERIC) said
Monday it has signed an agreement to acquire the telecom business
of the Chinese company Sunrise Technology, a provider of IT
services in the operations and business support systems domain.
"The unit being acquired has a strong track record of delivering
complex IT solutions to leading operators in China," Ericsson said
in a statement.
Ericsson didn't disclose any financial data linked with the
transaction. The acquisition is subject to customary closing
conditions and expected to be concluded by the end of second
quarter 2015.
The unit Ericsson is acquiring will continue to exist as a
separate entity. About 1,000 employees, almost all of whom are
based in Guangzhou, will transfer to Ericsson.
Write to Juhana Rossi at juhana.rossi@wsj.com; Twitter:
@WSJNordics
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