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Ericsson completes Technicolor broadcast services deal

Ericsson has completed the acquisition of Technicolor’s broadcast services division.

In March, Ericsson submitted a binding offer of €19 million and a potential earn-out based on 2015 revenues of the division’s activity of up to €9 million. Under the terms of the deal, Technicolor’s playout operations in France, the Netherlands and the UK, along with 900 members of staff, will come under the control of Ericsson. The company already offers playout services in the Nordic countries.

Magnus Mandersson, executive vice-president and head of business unit global services, Ericsson, said: “With this acquisition Ericsson has strengthened its position in the broadcast managed services market and reinforced our growth ambitions. Managed services in one of the main focus areas for Ericsson and we will continue to invest and expand this area.”