Ad
Ad
Ad
Ad
Ad
Ad
© ericsson Electronics Production | June 21, 2017

Ericsson sells power modules business to Flex

Ericssonhas signed an agreement with Flex, to divest Ericsson Power Modules (EPM). A workforce of over 300 people to move from Ericsson to Flex Power, a division within Flex.
The Ericsson Power Modules business, excluding the brand, will on closing be transferred to Flex as part of the agreement. This includes Shanghai Ericsson Electronics Corporation Ltd, a manufacturing site in China, and business assets in Sweden. More than 300 employees and consultants are expected to transfer from Ericsson to Flex Power.

Christian Hedelin, Head of Strategy, Business Area Networks, Ericsson, says: "Ericsson Power Modules with its skilled people has built a strong position and offering within the power industry. But, in line with our strategy, we are focusing our business on fewer core areas. The power modules business is a perfect fit for Flex, and we look forward to working together to ensure a smooth transition and a lasting relationship."

Nate Vince, President of Flex Power, says: "We are very pleased to be expanding our collaborative and successful long-standing partnership with Ericsson, while adding the talented and industry-leading Power Module team to Flex. In addition to enhancing our power capabilities and Sketch-to-Scale solutions, we look forward to leveraging this partnership to expand our offerings to the cloud and telco data center markets."

The transaction is expected to close in the third quarter of calendar year 2017 and is subject to customary closing conditions, including regulatory approvals.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
December 04 2017 9:30 PM V8.9.2-1