Ericsson sells power module business to Flex

News Wireless Global 21 JUN 2017
Ericsson sells power module business to Flex
Ericsson has signed an agreement to sell its Ericsson Power Module business to Flex for an undisclosed amount. Part of Ericsson's strategy announced in March to refocus on its core activities, the sale will see more than 300 Ericsson employees and consultants move to Flex. The sale also includes Shanghai Ericsson Electronics Corporation, a manufacturing site in China, and business assets in Sweden. 

Ericsson Power Modules designs and manufactures power supply products for information and communications equipment, including radio base stations, switches and routers, as well as additional computing and industrial applications. Flex operates in the power segment with Flex Power, delivering power supply products to a wide range of markets. 

The transaction is expected to close in the third quarter. 

Categories:

Mobile

Regions:

Global

Tags:

Components, Devices, M&A buyouts & divestments

Related Articles

GLOBAL 17 AUG 2017

Ericsson could downsize foreign workforce by 25,000 - report

Ericsson's plan to cut its costs further could affect approximately 25,000 jobs, according to Sweden newspaper Svenska Dagbladet's sources. An article on its website said it will be overseas staff that are hit by the reductions. The newspaper said Ericsson had declined to give it any comment on its plans.

GLOBAL 18 JUL 2017

Ericsson cuts deeper after Q2 loss, lowers market forecast

Ericsson has decided to further reduce costs beyond its restructuring plan, after reporting another disappointing quarter of losses. CEO Borje Ekholm said the company was not satisfied with its underlying performance in the second quarter and he sees further downside in the market going forward.

GLOBAL 21 JUN 2017

Ericsson hires banks to sell media business - report

Ericsson has hired banks to explore a sale of its media business, people with knowledge of the matter told Bloomberg. Ericsson is working with Morgan Stanley to consider a sale of its media solutions business, and the company hired Goldman Sachs to find a buyer for its broadcast and media services unit, the report said. The businesses have reportedly attracted interest from private equity firms as well as technology and media companies.

GLOBAL 30 MAY 2017

Ekudden appointed Ericsson Group CTO

Ericsson has announced the appointment of Erik Ekudden as Group CTO and Head of Technology & Architecture, starting on 01 July. Ekudden joined Ericsson in 1993 and has held various positions within research and development. He was most recently responsible for the company's technology strategies and industry activities and has been based in Silicon Valley for 7 years. In his new role Ekudden has been tasked with defining the technology direction of Ericsson with a particular focus on the distributed cloud a

GLOBAL 28 MAR 2017

Ericsson simplifies, shuffles executive team

Ericsson will simplify its organisational structure from 1 April, removing the two-tiered leadership structure, Executive Leadership Team and Global Leadership Team, and forming a single Executive Team. The move comes together with the company's desire for a more focused and simple organization, with the priority put on re-establishing profitability. CEO Borje Ekholm will remain in his position.

GLOBAL 28 MAR 2017

Ericsson starts major new company reorganisation

Ericsson has presented a new, more focused business strategy, saying it wants to simplify the organisation and name a new executive team. CEO Borje Ekholm said the announcement comes after a strategy review, which showed that the group strategy was just not yielding expected returns. The company now wants to move "with speed" it restore profitability as a priority, while revitalizing its technology and market leadership, with the focus going to the development of market-leading systems using 5G, IoT and the

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.