Ericsson will buy Technicolor's Broadcast Services division.
Technicolor today announced that it has received a binding offer for its Broadcast Services business from Ericsson ERIC), the world leader in communication technologies and services. 13 March 2012, Paris (France) – Technicolor (Euronext Paris: TCH) today announced that it has received a binding offer for its Broadcast Services business from Ericsson (NASDAQ:ERIC), the world leader in communication technologies and services.
Broadcast Services at Technicolor
includes play-out services, live production assistance, and media asset management. It employs roughly 900 people in three countries: France, the United Kingdom, and the Netherlands (as of January 2012).
This deal will help
Technicolor continue to leverage its existing portfolio, optimize its investment allocation, and generate free cash flow, as defined in its 2012-2015 strategic roadmap, which was unveiled on February 24, 2012. Technicolor's aim of decreasing debt and allocating capital investments to its other companies will be aided by the transaction.