Aastra Technologies to acquire Ericsson’s Enterprise Communication Business
With its headquarters in Stockholm, Sweden, the business is a leading provider of IP PBX, converged PBX systems and branch office solutions. The product portfolio includes communications solutions for enterprises of all sizes, mobility solutions, telephone terminals and services. With approximately 630 employees located in over 30 countries, the business generated revenue of approximately SEK3 billion (approximately CAD$460 million) in its last fiscal year ended December 2007.
As the enterprise communication market continues its evolution to VoIP, Aastra believes the acquisition of Ericsson s Enterprise Communication Business will provide it with the increased scale to be a leading player in Western Europe while creating an important footprint for Aastra in a number of key markets across Eastern Europe, Asia, Australia, the Middle East, Africa and South America.
TD Securities Inc. based in Toronto, Canada and Medici Corporate ASA based in Oslo, Norway are acting as Aastra s financial advisors with respect to this transaction while McCarthy Tétrault LLP is acting as Aastra s legal advisors.
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 185 million subscribers. The company s portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices. Ericsson is advancing its vision of communication for all through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD27.9 billion (SEK189 billion) in 2007. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on the Stockholm, London and NASDAQ stock exchanges. For more information, visit www.ericsson.com or www.ericsson.mobi.
Aastra Technologies Limited, is a global company at the forefront of the Enterprise Communication market. Headquartered in Concord, Ontario, Canada, Aastra develops and delivers innovative and integrated solutions that address the communication needs of businesses small and large around the world. Aastra enables Enterprises to communicate and collaborate more efficiently and effectively by offering customers a full range of open standard IP-based and traditional communications networking products, including terminals, systems, and applications. For additional information on Aastra, visit our website at http://www.aastra.com. "Aastra" is a registered trademark of Aastra Technologies Limited.