Business Services Industry
Ericsson sells Ericsson Microwave Systems AB to Saab
Nordic Business Report, June 12, 2006
NORDIC BUSINESS REPORT-12 June 2006-Ericsson sells Ericsson Microwave Systems AB to Saab(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish telecomms solutions provider Ericsson said on Monday (12 June) that it had agreed to sell its defence business, Ericsson Microwave Systems AB, and its 40% holding in Saab Ericsson Space to the Swedish defence and aerospace group Saab.
Ericsson would retain the National Security and Public Safety business, the company said.
The agreement involves a transfer of some 1,250 employees.
The purchase price was valued at SEK3.8bn in cash.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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