STOCKHOLM -- Ericsson (NASDAQ:ERIC), the world leader in communication technologies and services, today announced that it has submitted a binding offer to acquire the Broadcast Services Division of Technicolor, a worldwide technology leader in the media and entertainment sector, headquartered in France. The closing of the acquisition is subject to relevant customary regulatory administrative approvals and consultations.

The acquisition will bring approximately 900 highly skilled professionals and playout operations located in France, UK and the Netherlands serving several leading broadcasters and will allow Ericsson to substantially increase its current broadcast operations in terms of channels managed and households reached.

The announced acquisition intention is in line with Ericsson's managed services strategy to broaden its capabilities in the broadcasting area. Ericsson applies the managed services business model established in telecom operations, to improve efficiency, introduce innovation and increase revenues for the broadcasters.

Ericsson AB (Nasdaq: ERIC)