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Electronics Production | May 13, 2005

Flextronics Network, Telavie in merger agreement

Telavie AS and Flextronics Network Services agreement in principle to merge to create global independent leader in telecom network services.
Flextronics announced today it has an agreement in principle (“Agreement”) to merge Flextronics Network Services (FNS), a wholly-owned Flextronics subsidiary, with Telavie AS, a company wholly-owned by Altor, a private equity firm focusing on investments in the Nordic region. The merger of Telavie AS and Flextronics Network Services would create the global, independent market leader in network services. Working as one player, with almost 10,000 employees worldwide and revenues exceeding US$ 1 billion from operations in 18 countries worldwide, the combined company would leverage on relationships with key operator and system vendor customers in their global expansions.

The merged company would build on its strong position in emerging markets and capitalize on the substantial investments in new mobile networks. It would also be very well positioned to grow in continental Europe when large European telecommunication companies decide to outsource their construction, installation and maintenance business.

Ronny Nilsson, the current President of FNS would lead the combined group, while Stein Martinsen, the current CEO of Telavie, would lead the combined operations in Norway and Denmark.

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