- Ericsson to acquire the assets of Canada-based TimelessMIND, a consulting and systems integration company
- Approximately 30 employees and consultants are expected to join Ericsson in Q2, 2015
- The acquisition complements Ericsson's offering to telecom customers in North America
TORONTO, Feb. 20, 2015 /CNW/ - 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.
NOTES TO EDITORS
Global Services press backgrounder:
Consulting and Systems Integration press backgrounder:
OSS/BSS press backgrounder: http://www.ericsson.com/res/thecompany/docs/press/backgrounders/oss-bss-backgrounder.pdf
OSS/BSS Success Stories: www.ericsson.com/oss-bss/
Download high-resolution photos and broadcast-quality video at www.ericsson.com/press
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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.
SOURCE Ericsson Canada
For further information: Ericsson Media Relations - Canada, Patricia MacLean, Phone: +1 416 414 7755, E-mail: [email protected]; Ericsson Corporate Communications, Phone: +46 10 719 69 92, E-mail: [email protected]; Ericsson Investor Relations, Phone: +46 10 719 00 00, E-mail: [email protected]