ERIC Ericsson

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

Subscribe to WSJ: http://online.wsj.com?mod=djnwires