STMicroelectronics N.V.
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Publicatie datum
05 aug 2013 - 08:00
Statutaire naam
STMicroelectronics N.V.
Titel
Ericsson and STMicroelectronics Complete Transaction to split up ST-Ericsson
Bericht
• Formal transfer of relevant parts of ST-Ericsson to the parent companies has taken place on August 2, 2013
• Close down of the remaining activities of ST-Ericsson has started
Geneva - August 5, 2013 - Ericsson (NASDAQ:ERIC) and STMicroelectronics (NYSE:STM) today announced the closing of the transaction for the split up of
ST-Ericsson. This follows the announcement the Companies made on March 18, 2013 on the chosen strategic option for the future of the joint venture.
Effective August 2, 2013 Ericsson has taken on the design, development and sales of the LTE multimode thin modem solutions, including 2G, 3G and 4G interoperability. In total, approximately 1,800 employees and contractors have joined Ericsson.
ST has taken on the existing ST-Ericsson products, other than LTE multimode thin modems, and the GNSS (Global Navigation Satellite System) connectivity solution sold to a third party, and related business as well as certain assembly and test facilities. In total, approximately 1,000 employees have joined STMicroelectronics.
As previously communicated, Ericsson and ST have taken the expenses and the margin of their respective activities since March 2, 2013.
The close down of the remaining parts of ST-Ericsson has started and both parents are assuming equal funding of the wind-down activities.
Datum laatste update: 01 september 2024