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Last Trade - 07/05/21

Sector
Technology
Size
Large Cap
Market Cap £6.68bn
Enterprise Value £7.50bn
Revenue £17.27bn
Position in Universe 992nd / 6858

Ericsson begins sale of assets with power modules deal

Wed 21st June, 2017 9:22am
STOCKHOLM, June 21 (Reuters) - Swedish mobile telecom gear 
maker Ericsson  ERICb.ST  said on Wednesday it was selling its 
power modules business, the first exit of assets under a new 
strategy to focus on its core business. 
    The company announced the strategy in March, saying it would 
concentrate on its main product areas of networks, digital 
services and Internet of Things. urn:newsml:reuters.com:*:nL5N1H50WO 
    On Wednesday it said it had signed an agreement with 
software firm Flex  FLEX.O  to sell its power modules business, 
which includes a manufacturing site in China and assets in 
Sweden. 
    More than 300 employees and consultants are expected to 
transfer from Ericsson to Flex Power, but Ericsson did not 
disclose any financial details about the transaction. 
    "In line with our strategy, we are focusing our business on 
fewer core areas," Christian Hedelin, head of strategy for 
Ericsson's Networks business, said in a statement. 
    On Tuesday, Bloomberg, citing sources, reported that 
Ericsson had hired banks to explore a sale of its much larger 
media businesses.  urn:newsml:reuters.com:*:nL3N1JH4LR 
 
 (Reporting by Olof Swahnberg; Editing by Niklas Pollard and 
Susan Fenton) 
 ((Olof.Swahnberg@thomsonreuters.com; 08-700 1019; Reuters 
Messaging: olof.swahnberg.reuters.com@reuters.net)) 
 
Keywords: ERICSSON DIVESTMENT/
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