Ericsson has signed with Flex to divest Ericsson Power Modules, excluding the brand. This includes a manufacturing site in China and business assets in Sweden. More than 300 employees and consultants are expected to transfer from Ericsson to Flex Power. The transaction is expected to close in the third quarter of calendar year 2017 and is subject to customary closing conditions, including regulatory approvals.
According to Christian Hedelin, Head of Strategy, Business Area Networks, Ericsson, "Ericsson, in line with our strategy, are focusing our business on fewer core areas." Nate Vince, President of Flex Power, agrees "We are very pleased to be expanding our collaborative and successful long-standing partnership with Ericsson. In addition to enhancing our power capabilities and Sketch-to-Scale solutions, we look forward to leveraging this partnership to expand our offerings to the cloud and telco data center markets."
For more information, visit www.flex.com or www.ericsson.com.
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