Ericsson, the world leader in communication technologies and services, on Tuesday completed its acquisition of the Broadcast Services Division of Technicolor, a worldwide technology leader in the media and entertainment sector, headquartered in France. The closing follows the announcement on March 13, 2012.

Technicolor's Broadcast Services Division will operate under the Ericsson brand as of today. The purchase price of EUR 19 million and a potential earn out is based on 2015 revenues of the Broadcast Services activity of up to EUR 9 million.

“With this acquisition Ericsson has strengthened its position in the broadcast managed services market and reinforced our growth ambitions. Managed services in one of the main focus areas for Ericsson and we will continue to invest and expand this area", said Magnus Mandersson, Executive Vice President and Head of Business Unit Global Services, Ericsson.

Ericsson said it will integrate over 900 exceptionally skilled employees  into the Ericsson group in business unit Global Services over the coming months and will work under the Ericsson brand as of today.

Ericsson is the leading provider of managed services for telecom operators and has invested in processes and tools in this segment. With this acquisition Ericsson broadens its managed services offerings for media broadcasters and confirms the company's long term ambition and commitment to the area.

Ericsson is also the number one independent playout service provider in the Nordic countries. Managed services is an example of Ericsson's continuous innovation after creating this business model for telecom operators over 15 years ago, Ericsson has recently taken this successful business model to other industries such as utilities and media.