Telia Sells 91% of Orbiant to Flextronics

Orbiant comprises Neterna, Telia Service, Telia Systems, Evega, Relacom, and Wireless Network Management

October 30, 2001

1 Min Read

STOCKHOLM, Sweden -- Telia today announced it has reached an agreement to sell 91 percent of Orbiant Group to Flextronics. Orbiant comprises Neterna, Telia Service, Telia Systems, Evega, Relacom, and Wireless Network Management. The consideration to Telia is SEK 1,046.5 million. Furthermore an additional payment may be payable, the size of which is dependent on the Orbiant companies' development during the period 2002 - 2004. The amount of the additional payment, which will be determined after the end of 2004, can currently not be calculated, but can amount to at most SEK 2,300 million. Orbiant's roughly 5,400 employees will form an important part of Flextronics and will become a part of the Flextronics Network Services business area. Flextronics today employs roughly 70,000 people and after this deal, Network Services will employ more than 6,400 people worldwide, of which the largest portion is situated in the Nordic region. The business area offers a complete service package and implementation, operation, and management of equipment for fixed and mobile networks. Flextronics defines the Flextronics Network Services as a prioritized growth area. "The sale of Orbiant is an important part of Telia's long-term and deliberate ambition to streamline operations," said Marianne Nivert, President and CEO of Telia. "Through this deal with Flextronics, we are contributing to change and renew the industry in which Orbiant will now be a player of major importance due to many years of experience and broad expertise in data and telecommunications. Orbiant will be an important supplier to Telia, while still being able to act independently in the market." Telia ABFlextronics International

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