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Electronics Production | September 19, 2006

Elektrobit acquires Ericsson<br>development center in Finland

Elektrobit and Ericsson signed an agreement on September 18, 2006, according to which Ericsson's Product Development Center in Turku will be transferred to Elektrobit on October 1, 2006.
In context, 65 employees of Ericsson, mainly software professionals, will be transferred to Elektrobit. The parties have agreed not to publish the purchase price or other agreement terms.

The newly signed agreement supports Elektrobit's new strategy, defined in the spring 2006, according to which the company focuses on two businesses: the Wireless Communications Solutions business segment and the Automotive Software business segment. The agreement strengthens the operation of the Radio Network Solutions business unit, which belongs to the Wireless Communications Solutions segment.

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