Ericsson completes sale of Ericsson Federal Inc. to Tailwind Capital
(Thomson Reuters ONE) -
* Tailwind renames Ericsson Federal Inc. to Oceus Networks
* Transaction creates new channel for Ericsson to better address the U.S.
federal government
* Oceus Networks to serve as Ericsson's exclusive channel to the U.S.
Department of Defense
Ericsson (NASDAQ: ERIC) today announced the completion of the sale of 100
percent of the shares in Ericsson Federal Inc. (EFI) to Tailwind Capital, a
private equity firm focused on growing companies. As the division of Ericsson
focused on the U.S. federal government market, EFI is renamed Oceus Networks and
is a wholly owned U.S. business. Ericsson has no ownership stake in the company.
The sale was completed on December 31, 2010.
Under the terms of the new structure, Oceus Networks will have the exclusive
right to offer the full slate of Ericsson's industry leading standards-based,
off-the-shelf technology and support services to this customer base. Ericsson
Federal Inc.'s employees have joined Oceus Networks, which is based in Reston,
Virginia. Douglas Smith will continue as President and CEO of the company.
For more than 50 years, Ericsson has been a trusted partner to the U.S. public
sector. Now Oceus Networks can leverage Ericsson's leading technology portfolio
and investment in research and development to design and deliver standards-based
government solutions to meet the emerging and future communications needs of the
federal government.
"We are excited about the opportunity to work with Oceus Networks to deliver
broadband solutions for future government networks," said Emil Nilsson, CFO and
COO of Ericsson's North American operations. "Under Tailwind's ownership, Oceus
will be fully focused on the federal sector and the partnership brings us
enhanced ability to offer the latest standards-based solutions to the U.S.
federal government," Nilsson concludes.
"Oceus Networks will leverage Ericsson's world-class technology to design, build
and support emerging communications solutions for the government, but will now
have an improved ability to engage with customers in long-term planning and
ultimately better serve their needs," said Jim Hoch, Managing Partner of
Tailwind Capital.
"Tailwind has established a track record of helping portfolio companies
accelerate growth, and Oceus Networks represents a compelling opportunity to
acquire a leading communications-focused systems integrator that is well
positioned to leverage its strategic, long-term relationship with Ericsson and
capitalize on a number of powerful market dynamics and trends", said Douglas
Smith, CEO of Oceus Networks.
The terms of the transaction are not disclosed.
Notes to editors:
Our multimedia content is available at the broadcast room:
www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of technology and services to telecom
operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and
provides support for networks with over 2 billion subscribers and has the
leading position in managed services. The company's portfolio comprises mobile
and fixed network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media industry. The Sony
Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich
personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in an all-
communicating world" through innovation, technology, and sustainable business
solutions. Working in 175 countries, more than 80,000 employees generated
revenue of SEK 206.5 billion (USD 27.1 billion) in 2009. Founded in 1876 with
the headquarters in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX,
Stockholm and NASDAQ New York.
www.ericsson.com
www.twitter.com/ericssonpress
www.facebook.com/technologyforgood
www.youtube.com/ericssonpress
About Tailwind Capital
Tailwind Capital is a leading private equity firm investing in growth-oriented
middle market companies in business and communications services and healthcare.
Tailwind partners with management teams to build value through internal growth,
acquisitions, and operational and strategic developments. The firm currently has
over $1 billion under management. Representative investments include TowerCo
(wireless infrastructure), Archway (marketing logistics), Trover Solutions
(insurance services), SDI Health (healthcare data analytics), Apex Companies
(environmental services) and Optimal Solutions (IT services). For further
information, please visit: www.tailwind.com.
About Oceus Networks
Oceus Networks provides broadband solutions to governments that enable them to
deliver high-speed voice, video and data communications to the constituents they
serve. Broadband empowers governments to send and receive critical information
and to create opportunities for businesses to compete in the global marketplace.
Oceus Networks delivers open, standards-based mobile and fixed network
infrastructure as well as an extensive portfolio of public sector-focused
solutions to simplify and expedite the deployment of wired and wireless
broadband communications solutions.
As both the expedited manner with which networks are deployed and the improved
voice, video and data communications refer to speed, that is the basis of the
origination of the company's name. Ocius, a variation of the company's name, is
a latin word for speed, thereby the company's name reflects the customer value
derived from both expedited network development as well as improved
communications.
Privately owned and operated, Oceus Networks' headquarters are located in
Reston, Virginia, USA.
www.oceusnetworks.com
http://www.youtube.com/OceusNetworks
http://twitter.com/oceusnetworks
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:media.relations(at)ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail:investor.relations(at)ericsson.com
Tailwind Capital
Brooke Gordon/Nicole Tolmie, Sard Verbinnen & Co
Phone: 212-687-8080
Email: bgordon(at)sardverb.com
Oceus Networks
Kristin Oelke
Phone: 703-678-7707
Email: koelke(at)oceusnetworks.com
Photo of Emil Nilsson:
http://hugin.info/1061/R/1476726/412855.jpg
Press release PDF:
http://hugin.info/1061/R/1476726/412854.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
[HUG#1476726]
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Datum: 03.01.2011 - 15:00 Uhr
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