Ericsson to acquire Technicolor's broadcast divison

Ericsson has submitted a binding offer to acquire the broadcast services division of Technicolor, a French technology company dealing in the media and entertainment sector.

The completion of the acquisition will be subject to relevant customary regulatory administrative approvals and consultations.
The acquisition will enable Ericsson to enhance its current broadcast operations in terms of channels managed, and households reached, and will add approximately 900 professionals and playout operations to the company.

''As the TV industry is undergoing fundamental changes with the transition to multi-platform, on-demand television, teaming up with a trusted partner enables broadcasters to meet the increasing commercial and technological complexity and competition in the TV market,'' said Magnus Mandersson, executive VP, and head of business unit global services, Ericsson.

''For Ericsson, managed services are a core business and after completion of this divesture, the Broadcast Services activity will benefit from the company's know-how and global scale necessary to remain a key player in the worldwide broadcast industry,'' said Fredric Rose, CEO, Technicolor.