MALMO, Sweden, April 30, 2002 (PRIMEZONE) -- Teleca and Ericsson have signed a letter of intent to enter into an outsourcing agreement where, Ericsson's French research and development activities will be transferred to Teleca. As part of the agreement 188 employees will be moved from Ericsson to Teleca in France. The outsourcing contract will initially run for a period of three years.
The agreement is part of Teleca's strategy to focus growth in major European markets and to expand the outsourcing business. The agreement is expected to be effective from June 1, 2002, and will increase Teleca's staff in France to more than 300 employees. Teleca expects the outsourcing agreement to have an immediate positive effect on Teleca's earnings and normal Teleca margins are expected within two years.
The R&D centre will form the basis of a new Teleca subsidiary focused on projects and outsourced R&D. Leveraging from the centre's long experience in full lifecycle projects, Teleca will work on a variety of telecom services including core network and mobile technologies. Teleca will also work as an integration partner to Ericsson within mobile services and service platforms.
"The planned agreement has been made possible through the combination of Teleca's strong international presence and AU-System's experience of outsourcing, and clearly shows the industrial logic of the merger between Teleca and AU-System," said Nick Stammers, CEO of Teleca. "The agreement will be important because it will increase Teleca's strength in France and enable us to undertake larger outsourced R&D projects for our existing broad customer base."
Telephone conference:
Held Tuesday April 30, 2002, at 10.00 AM CET (GMT+1). Call +44 (0)20 8781 0562 Replay number (available for 3 days): +44 (0)20 8288 4459, access code: 634 892
Further press material will be available from 09.00 PM CET at Teleca's website: www.teleca.com.
For additional information, contact: - Nick Stammers, CEO, Teleca AB, tel +44 7768 32 35 35 - Anders Cedervall, Executive Vice President, Teleca AB, tel +46 705 33 03 30
About the Teleca group
Teleca is one of Europe's leading high-end consulting groups focused on new technology and R&D. Our business concept is to strengthen our customer's market position and time-to-market. This is achieved by providing professional teams with specialist technical expertise, working in partnership with development-intensive companies world-wide. The group has more than 2,200 employees in 13 countries with a strong presence in the Nordic region, U.K., and France. Teleca is quoted on the Attract40 list of Stockholmsborsen. For more information please visit www.teleca.com.
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