Elektrobit Buys Ericssonís Product Development Center in Turku, Finland
Elektrobit and Ericsson signed an agreement on September 18, 2006, according to which Ericssonís Product Development Center in Turku will be transferred to Elektrobit on October 1, 2006. In context, 65 employees of Ericsson, mainly software professionals, will be transferred to Elektrobit. The parties have agreed not to publish the purchase price or other agreement terms.
The newly signed agreement supports Elektrobitís new strategy, defined in the spring 2006, according to which the company focuses on two businesses: the Wireless Communications Solutions business segment and the Automotive Software business segment. The agreement strengthens the operation of the Radio Network Solutions business unit, which belongs to the Wireless Communications Solutions segment.
Oulunsalo, September 19, 2006
Elektrobit Group Plc.
Elektrobitís goal is to become a world leading embedded software and hardware company in selected wireless and automotive environments. The businesses are arranged under three business segments. The Wireless Communications Solutions segment encompasses the Mobile Terminal Solutions and the Radio Network Solutions business units providing R&D services, 3G smart phone reference design products and IP radio base station modules to telecommunications vendors. The Automotive Software segment encompasses the Automotive Software business unit providing in-car software products and R&D services for the automotive industry. The Test and Automation segment consists of the Network Test, the System Test and the Production Solutions business units providing testing, material handling and process automation tools and equipment for the electronics industry and teleoperators. Elektrobit employs some 1,900 professionals in 15 countries. The Groupís net sales for the year 2005 totaled eur 212.5 million. Elektrobit Group Plc. is listed on the Helsinki Stock Exchange.
- Contact Information
- Maija-Liisa Fors
- Director, Investor Relations
- Elektrobit Group Plc.
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.