MALMO, Sweden, April 4, 2003 (PRIMEZONE) -- Teleca has opened a new subsidiary, Teleca Systems GmbH, in Nuremberg Germany. At the same time Teleca has signed a new development agreement with Ericsson Mobile Platforms, which runs for a two-year period.
On January 24, 2003 Teleca and Ericsson signed a letter of intent regarding an outsourcing agreement in Nuremberg. This letter has mutually been withdrawn.
Teleca's new subsidiary has recruited 48 employees and is focused on the development of software and hardware for mobile phone platforms, speech recognition and security solutions. These valuable competences have secured full utilisation during 2003, and additional assignments are expected shortly. Teleca is a long-term partner to Ericsson Mobile Platforms.
The new subsidiary is part of Teleca's strategy to build a global business in mobile devices and to build a strong position on the local German market.
"Our ambition is to be the world's number one system integrator for mobile phones," said Nick Stammers, CEO of Teleca AB. "We already have a strong position and by having a local office we can now focus on the market in Germany more efficiently and also develop the business in other market segments."
The new subsidiary is fully operational from April 1, 2003. Teleca anticipates that the new subsidiary will be profitable from the outset and achieve good margins within two years.
For further information, contact: Nick Stammers, CEO, Teleca AB phone +44-7768 32 35 35
Teleca is an international consulting company building and applying advanced technology. The company's business concept is to strengthen the customers' market position and time to market. Teleca builds and integrates solutions for technology and software intensive customers worldwide. Core values are honesty, reliability and hard work. The company has more than 2,400 employees with operations in 14 countries in Asia, Europe and USA. Teleca is quoted on the Attract40 list of Stockholmsborsen (Stockholm stock exchange). www.teleca.com.
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