Ericsson Completes Technicolor Broadcast Services Acquisition
By Jeffrey Hill | July 4, 2012
[Satellite TODAY 07-04-12] Ericsson has completed its acquisition of Technicolor’s Broadcast Services Division based in France, the companies confirmed July 3.
The acquisition was initially announced March 13.
Ericsson agreed to pay 19 million euros ($24 million) along with a potential earn-out based on 2015 revenues of broadcast services activity of up to 9 million euros ($11.3 million) for the Technicolor division.
Ericsson Executive Vice President Magnus Mandersson said his company would integrate 900 Technicolor employees into its Global Services division over the coming months to work under the Ericsson brand.
“With this acquisition Ericsson has strengthened its position in the broadcast managed services market and reinforced our growth ambitions. Managed services in one of the main focus areas for Ericsson and we will continue to invest and expand this area,” Mandersson said in a statement.