Ericsson Closes Acquisition of Technicolor's Broadcast Services Division

•   The acquisition will bring leading broadcast customers, about 900 highly skilled professionals and playout operations in France, UK and Netherlands
•   Ericsson is committed to continue to support existing customers and aims to become the leading global provider of managed services for broadcasters
•    Purchase price of EUR 19 million and a potential earn-out based on 2015 revenues of the Broadcast Services activity of up to EUR 9 million.

Magnus Mandersson, Executive Vice President and Head of Business Unit Global Services, Ericsson, says: "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."

Ericsson welcomes over 900 exceptionally skilled employees who will be integrated into the Ericsson group in business unit Global Services over the coming months and will work under the Ericsson brand as of today.

Ericsson is a leading provider of managed services for telecom operators and has invested in processes and tools in this segment. With this acquisition Ericsson broadens its managed services offerings for media broadcasters and confirms the company's long term ambition and commitment to the area.

Ericsson is also the number one independent playout service provider in the Nordic countries. Managed services is an example of Ericsson's continuous innovation - after creating this business model for telecom operators over 15 years ago, Ericsson has recently taken this successful business model to other industries such as utilities and media.

About Technicolor Broadcast Services
Technicolor helps broadcasters produce, manage and deliver TV programming quickly, efficiently and economically. Technicolor provides TV studio with post-production services and a range of media services options.Technicolor experts develop custom budgets of all sizes, geared towards each individual project. They bring their talent and experience to TV productions and help clients implement streamlined post-production workflows.