Ericsson Buys TimelessMIND OSS Assets

Ericsson (NASDAQ: ERIC) today announced that it has entered into an agreement to acquire the assets of TimelessMIND, a Canada-based consulting and systems integration company specializing in operations and business support systems (OSS/BSS). Approximately 30 employees and consultants – based in Canada and India – are expected to join Ericsson.

The acquisition – which is expected to close in the second quarter of 2015, subject to customary closing conditions – complements Ericsson’s already comprehensive portfolio of consulting and systems integration services and OSS/BSS products. In particular, Ericsson will benefit from the TimelessMIND employees’ experience of working with telecom customers in Canada. In terms of OSS/BSS products, Ericsson will gain access to a flexible, cloud-based intranet enterprise solution and a rapid software assembly platform that delivers high-quality solutions to its customers. Paolo Colella, Vice President and Head of Consulting and Systems Integration at Ericsson, says: “The acquisition of TimelessMIND enhances our capabilities and portfolio, bolstering our ability to support our customers while they undertake their ICT transformation journey.”

Sarabjit Sachar, CEO of TimelessMIND, says: “We are excited to be joining the Ericsson team as its global scale and presence will enable us to lend our expertise to a much broader array of customers.” Ericsson aims to provide a complete, end-to-end portfolio of hardware, software and services that meets operators’ business, networks and IT needs. This comprehensive portfolio also enables Ericsson to guide operators through a transformation that aligns their business processes with their networks and IT for optimal efficiency. Over the years, Ericsson has made a number of strategic acquisitions in order to broaden its portfolio, and this is just the most recent example.

Ericsson’s global services offerings and broad software portfolio supports our customers’ efforts to transform their operations and IT environments, improving the user experience, increasing efficiency and enabling service innovation. Ericsson has 16,000 consulting and systems integration professionals who together deliver more than 1,500 consulting, systems integration and learning services projects in multi-vendor and multi-technology environments each year.

Ericsson AB (Nasdaq: ERIC)