Ericsson has completed its acquisition of the Broadcast Services Division of Technicolor, headquartered in France. The purchase price is reported to be US $24 million and the potential earn-out based on 2015 revenues of the broadcast services activity is estimated to be US $11 million. Ericsson will absorb around 900 skilled professionals and Technicolors playout […]
Ericsson has completed its acquisition of the Broadcast Services Division of Technicolor, headquartered in France. The purchase price is reported to be US $24 million and the potential earn-out based on 2015 revenues of the broadcast services activity is estimated to be US $11 million. Ericsson will absorb around 900 skilled professionals and Technicolors playout operations in France, UK and Netherlands. All acquired operations will work under the Ericsson brand as of July 3, 2012.
Speaking about the deal, Magnus Mandersson, executive VP and head of Business Unit Global Services, Ericsson, said: “With this acquisition, Ericsson has strengthened its position in the broadcast managed services market and reinforced our growth ambitions. Managed services is one of the main focus areas for Ericsson and we will continue to invest and expand this area.”
