...the Broadcast Services Division of Technicolor headquartered in France. The closing of the acquisition is subject to relevant customary regulatory administrative approvals and consultations. The acquisition will bring approximately 900 highly skilled professionals and playout operations located in France, U.K. and the Netherlands serving several leading broadcasters and will allow Ericsson to substantially increase its current broadcast operations in terms of channels managed and households reached. The announced acquisition intention is in line with Ericsson's managed services strategy to broaden its capabilities in the broadcasting area. Ericsson applies the managed services business model established in telecom operations, to improve efficiency, introduce innovation and increase revenues for the broadcasters. With this acquisition Ericsson broadens its managed services for media broadcasters offering and confirms the company's long term ambition and commitment to the area.
Ericsson is the number one independent playout service provider in the Nordic countries and has managed services agreements with broadcasters in Europe and Asia. After this acquisition, Ericsson will be the leading independent playout service provider in Europe. Managed services is an example of Ericsson's continuous innovation—after creating this business model for telecom operators more than 15 years ago, Ericsson has during the last years taken this successful business to other industries such as utilities and media.