Ericsson to buy telecom business in China with 1,000 employees

KOALA Financial

16/03/2015 13:00

(Repeats without changes to text) 
    STOCKHOLM, March 16 (Reuters) - Swedish telecom equipment 
maker Ericsson  ERICb.ST  said on Monday it was buying the 
telecom business of China's Sunrise 
Technology with around 1,000 employees. 
    Ericsson said the acquired company will be integrated with 
its Global Services business by the second quarter of this year. 
The price of the deal was not disclosed. 
    The company said last week it was cutting 2,200 jobs in 
Sweden, mainly in research and development and supply, as part 
of its latest cost-cutting programme.  ID:L5N0WD2BT  
 
 (Reporting by Helena Soderpalm; Editing by Jussi Rosendahl) 
 ((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters 
Messaging: helena.soderpalm.reuters.com@reuters.net)) 
 
Keywords: ERICSSON ACQUISITION/