STOCKHOLM, August 10, 2017 /PRNewswire/ --
Francisco Partners, a leading technology investment firm, has
completed its investment in iconectiv, an independent subsidiary
owned by Ericsson (NASDAQ: ERIC). As part of the investment,
Francisco Partners invests USD 200
million to acquire a 16.7% ownership in iconectiv. The
partnership between Ericsson and Francisco Partners will enable
iconectiv to accelerate growth and deliver shareholder value.
Headquartered in the United
States, iconectiv develops market-leading solutions that
enable operators to interconnect networks. The company's solutions
are used by more than 1,200 service providers, regulators,
enterprises, and content providers worldwide. iconectiv is also the
global leader in providing numbering solutions and most recently
was designated by the U.S. Federal Communications Commission to
serve as the Local Number Portability Administrator in the U.S.
Francisco Partners is a leading global private equity firm,
which specializes in investments in technology businesses. Since
its launch over 17 years ago, Francisco Partners has raised over
USD 10 billion in capital and
invested in over 200 technology companies, making it one of the
most active and longstanding investors in the technology industry.
The firm invests in opportunities where its deep knowledge and
operational expertise can help companies realize their full
potential.
The USD 200 million has been
transferred to Ericsson as a dividend. The transaction has no
material impact on Ericsson group income.
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Ericsson is a world leader in communications technology and
services with headquarters in Stockholm,
Sweden. Our organization consists of more than 111,000
experts who provide customers in 180 countries with innovative
solutions and services. Together we are building a more connected
future where anyone and any industry is empowered to reach their
full potential. Net sales in 2016 were SEK
222.6 billion (USD 24.5
billion). The Ericsson stock is listed on Nasdaq Stockholm
and on NASDAQ in New York. Read more
on www.ericsson.com.
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Francisco Partners
completes investment in Ericsson’s iconectiv business
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SOURCE Ericsson