Ericsson to Buy Technicolor Broadcast Division

Ericsson has submitted a binding offer to acquire the Broadcast Services Division of Technicolor. Purchase price is EUR 19 million ($11.8 million), and closing is expected around mid 2012.The acquisition will bring Ericsson approximately 900 professionals and playout operations located in France, the UK and the Netherlands serving several broadcasters. It's intended to help Ericsson increase its current broadcast operations in terms of channels managed and households reached.