Ericsson will divest its enterprise PBX solutions business to Aastra Technologies for SEK 650 million, excluding net of assets and liabilities. Ericsson expects a capital gain of approximately SEK 200 million on the transaction. Aastra believes that the acquired business, under its management, will require net working capital of CAD$57 million resulting in a total investment by Aastra of approximately CAD$160 million.
Ericsson’s enterprise PBX solutions business supplies 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 agreement involves transfer of approximately 630 employees of which some 360 are based in Sweden. The transaction is expected to close in April 2008.
Ericsson said the deal enables it to focus on providing its broad portfolio of enterprise applications directly to operators and service providers.
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.http://www.aastra.comhttp://www.ericsson.com
