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Electronics Production | February 18, 2008

Aastra acquire Ericsson’s enterprise communications business

Aastra Technologies Limited is pleased to announce that it has entered into an agreement with Ericsson to acquire Ericsson’s Enterprise Communications Business.

The acquisition is subject to customary closing conditions and is expected to close in April 2008. The purchase price is SEK650 million (CAD$103 million) for intangible assets subject to customary adjustments for net tangible assets as at closing. Aastra believes that the acquired business, under its management, will require networking capital of CAD$57 million resulting in a total investment by Aastra of approximately CAD$160 million. Aastra believes the acquisition of Ericsson’s Enterprise Communication Business will provide it with the increased scale to be a player in Western Europe while creating an important footprint for Aastra in a number of key markets across Eastern Europe, Asia, Australia, the Middle East, Africa and South America.
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