Ericsson to buy telecom business in China with 1,000 employee

Ericsson to buy telecom business in China with 1,000 employees

16 Mar9:30 PM

[STOCKHOLM] Swedish telecom equipment maker Ericsson said on Monday it was buying the telecom business of China's Sunrise Technology with around 1,000 employees.

Ericsson said the acquired company will be integrated with its Global Services business by the second quarter of this year. The price of the deal was not disclosed.

The company said last week it was cutting 2,200 jobs in Sweden, mainly in research and development and supply, as part of its latest cost-cutting programme.

REUTERS