Ericsson: agreement to sell iconectiv
(CercleFinance.com) - Ericsson announces that it has reached a binding agreement with Koch Equity Development to sell iconectiv, its US subsidiary providing network number portability solutions and data exchange services.
The Scandinavian group expects to record exceptional EBIT on this transaction of around 8.8bn SEK ($0.8bn) on completion, which is scheduled for H1 2025 subject to customary conditions and approvals.
Acquired in 2012 by Ericsson as part of the Telcordia buyout, iconectiv had been jointly owned with Francisco Partners since 2017. It offered only limited strategic synergies with the rest of the Swedish network equipment supplier's portfolio.
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The Scandinavian group expects to record exceptional EBIT on this transaction of around 8.8bn SEK ($0.8bn) on completion, which is scheduled for H1 2025 subject to customary conditions and approvals.
Acquired in 2012 by Ericsson as part of the Telcordia buyout, iconectiv had been jointly owned with Francisco Partners since 2017. It offered only limited strategic synergies with the rest of the Swedish network equipment supplier's portfolio.
Copyright (c) 2024 CercleFinance.com. All rights reserved.