Ericsson divests its local customer support business in Russia

  • Ericsson continues its orderly exit from the business Russia
  • Local operations manager acquires Ericsson’s customer support business Russia provides customer support to mobile operators. Russia
  • All Ericsson Customer Engagements Russia Scheduled to be terminated by the end of the year

Stockholm, December 15, 2022 /PRNewswire/ — Ericsson’s (NASDAQ: ERIC) wholly-owned Russian subsidiary has entered into an asset purchase agreement to sell its local customer support business. Russia To a Russian company owned by a former business manager of Ericsson’s Russian subsidiary.

The transaction includes the transfer of approximately 40 Ericsson employees, certain assets and contracts related to the business.

A customer support business is a local business agreement that does not include the export of hardware, software, or related services to mobile operators. Russia.

Continue Russian intrusion into UkraineEricsson announced a temporary suspension of operations and deliveries to customers Russia An orderly de-escalation in accordance with applicable sanctions.Around 400 Ericsson employees Russia Receiving notice of staff reduction and leaving the company due to suspension of business.

Entering 2023, Ericsson will: Russia on a local basis. Legal entities owned by Ericsson will continue to be registered to complete the dissolution and meet legal, contractual and administrative requirements.

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About Ericsson:
Ericsson enables communication service providers and enterprises to maximize the value of connectivity. The company’s portfolio spans the business areas of Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platforms, Technology and New Business. It is designed to help our clients go digital, increase efficiency and discover new revenue streams. Ericsson’s investments in innovation have brought the benefits of mobility and mobile his broadband to billions of people around the world. Ericsson shares are listed on NASDAQ Stockholm and NASDAQ New York.

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