MALMO, Sweden, June 11, 2002 (PRIMEZONE) -- Teleca and Ericsson have finalised an outsourcing agreement where Ericsson's French research and development activities are transferred to Teleca. On 30 April Teleca and Ericsson signed a letter of intent to enter the agreement and following negotiations with unions the agreement is now finalised.
As part of the agreement 185 employees are transferred from Ericsson to a new Teleca subsidiary in France. The R&D outsourcing contract runs for an initial three-year period.
The new subsidiary will focus 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 agreement increases Teleca's staff in France to more than 300 employees and is part of Teleca's strategy to focus growth in major European markets and to expand the outsourcing business.
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 results from the new subsidiary will be consolidated with Teleca from 1 June 2002.
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
Teleca is one of Europe's leading consulting companies in 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 to work in partnership with development-intensive companies all over the world. The Group has more than 2,200 employees in 13 countries. It occupies a strong position in the Nordic countries, the UK and France. Teleca is listed on Stockholmsborsen's Attract40. www.teleca.com
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