Ericsson closes acquisition of Canada-based TimelessMIND

  • The acquisition includes approximately 30 employees and consultants  
  • Ericsson further expands its systems integration capabilities for OSS/BSS in North America
  • TimelessMind employees will transition to Ericsson on April 9, 2015

TORONTO, April 9, 2015 /CNW/ - Ericsson (NASDAQ: ERIC) today announces the completion of its acquisition of TimelessMind, a Canada-based consulting and systems integration company specializing in operations and business support (OSS/BSS). The closing follows the announcement on February 20, 2015, that Ericsson
entered into an agreement to acquire the assets of TimelessMIND.

Paolo Colella, Vice President and Head of Consulting and Systems Integration at Ericsson, says: With TimelessMind we further expand our consulting and systems integration portfolio and enhance our commitment to support our customers during their ICT transformation.

Ericsson welcomes approximately 30 employees and consultants, based in Canada and India, who will transition to Ericsson on April 9, 2015.

The acquisition complements Ericsson's already comprehensive portfolio of consulting and systems integration services and OSS/BSS products.

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.

NOTES TO EDITORS

Ericsson expands system integration capabilities for OSS/BSS in North America press release:
www.ericsson.com/news/150220-ericsson-expands-system-integration_244069647_c

Global Services press backgrounder:
www.ericsson.com/res/thecompany/docs/press/backgrounders/global_services_press_backgrounder.pdf

Consulting and Systems Integration press backgrounder:
www.ericsson.com/res/thecompany/docs/press/backgrounders/csi_press_backgrounder.pdf

OSS/BSS press backgrounder: http://www.ericsson.com/res/thecompany/docs/press/backgrounders/oss-bss-backgrounder.pdf

BSS portfolio overview:
www.ericsson.com/ourportfolio/telecom-operators/billing-and-revenue-management?nav=marketcategory007

OSS/BSS Success Stories: www.ericsson.com/oss-bss/

Download high-resolution photos and broadcast-quality video at www.ericsson.com/press

Ericsson is the driving force behind the Networked Society – a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future.

Our services, software and infrastructure – especially in mobility, broadband and the cloud – are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.

With approximately 115,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world's mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions – and our customers – stay in front.

Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2014 were SEK 228.0 billion (USD 33.1 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.

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SOURCE Ericsson Canada

For further information: Ericsson Media Relations - Canada, Patricia MacLean, Phone: +1 416 414 7755, E-mail: patricia.maclean@ericsson.com; Ericsson Investor Relations, Phone: +46 10 719 00 00, E-mail: investor.relations@ericsson.com

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