ST-Ericsson Outsources R&D to Cybercom

Agreement transfers activities and resources of ST-Ericsson research and development center in Linköping to Cybercom

October 11, 2012

1 Min Read

STOCKHOLM -- Cybercom, an IT consulting Company (XSTO:CYBE) and ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC) announced today that they have signed an agreement to transfer the activities and resources of the ST-Ericsson research and development center in Linköping (Sweden) to Cybercom. Cybercom, as an important supplier to ST-Ericsson, will develop testing tool software for ST-Ericsson through June 2013.

The move takes place within the framework of ST-Ericsson's transformation plan and Cybercom's connectivity business. The agreement foresees the transfer of 27 employees from ST-Ericsson to Cybercom.

This transfer is further progress in ST-Ericsson's site strategy announced in April this year, which aims to enhance operational efficiency of the company by reducing its worldwide activities into fewer sites lowering the break-even point.


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