📋 Tender Overview
Ericssons wholly owned Russian subsidiary has entered into an asset transfer agreement to divest its local customer support business in Russia to a Russian company owned by former operational managers of Ericssons Russian subsidiary.The transaction includes a transfer of approximately 40 Ericsson employees and certain assets and contracts related to the business.The customer support business is a local business engagement that does not involve the export of hardware software or related services to mobile operators in Russia.Following Russias invasion in Ukraine Ericsson announced the suspension of operations and deliveries to customers in Russia and an orderly wind-down in accordance with applicable sanctions. Approximately 400 Ericsson employees in Russia have been notified of layoffs and have been leaving the company as operations have been discontinued.Going into 2023 Ericsson expects to have a small presence in Russia on a local basis. A legal entity owned by Ericsson will continue to be registered to complete the wind-down and to fulfill legal contractual and administrative requirements.ABOUT ERICSSONEricsson enables communications service providers and enterprises to capture the full value of connectivity. The companys portfolio spans the following business areas Networks Cloud Software and Services Enterprise Wireless Solutions Global Communications Platform and Technologies and New Businesses. It is designed to help our customers go digital increase efficiency and find new revenue streams. Ericssons innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com.
