L M Ericsson AB has completed sale of 80% of Ericsson Information Systems to Nokia Oy for the equivalent of $265m, Ericsson revealed yesterday – the price to be paid had not previously been given: the unit has 5,000 employees and annual sales of $675m and the new Nokia Data will have 8,000 employees and annual sales of some $1,180m or so; the transfer of control has not yet formally been approved by Sweden.
ERICSSON COMPLETES SALE OF 80% OF ERICSSON INFORMATION SYSTEMS TO NOKIA
