MALMO, Sweden, Jan. 24, 2003 (PRIMEZONE) -- Teleca (Stockholm:TELCb) and Ericsson (Nasdaq:ERICY) have signed a letter of intent to enter into an outsourcing agreement where parts of Ericsson's development organisation in Nuremberg will be transferred to Teleca.
Approximately 50 employees will be transferred from Ericsson to a new Teleca subsidiary in Germany. The agreement is in line with Teleca's strategy to build a strong European operation by expanding in Germany, and to further develop its mobile device business in this key market. The development activities in Nuremberg cover products for use in Ericsson's mobile platform solutions.
"Teleca is already a world-leading provider of integration services for mobile devices. The planned agreement will further increase our competence in mobile platform development and make our offering even more complete," says Nick Stammers, CEO of Teleca. "Through the outsourcing agreement we will establish our first office in the important German market and gain much coveted expertise within voice recognition."
"This agreement has been made possible due to our good relation with Ericsson, and will further strengthen our co-operation with Ericsson Mobile Platforms," says Patrik Strandeus, Global Account Manager for Ericsson at Teleca.
Teleca expects the outsourcing agreement to have a positive effect on Teleca's earnings and, by efficiency measures and co-operation with new customers, reach normal Teleca margins within two years.
The agreement is expected to be finalised in February 2003, more information will be available at that time.
For additional information, contact: Nick Stammers, CEO, Teleca AB, tel +44 7768 32 35 35; Patrik Strandeus, Global Account Manager Ericsson, Teleca AB, tel +46 703 79 10 60.
Teleca is a European consulting group focused on new technology and R&D. Our business concept is to strengthen our customer's market position and time-to-market. This is achieved by providing professional teams with specialist technical expertise, working in partnership with development-intensive companies worldwide. The group has more than 2,300 employees in 15 countries with a strong presence in the Nordic region, UK, and France. Teleca is quoted on the Attract40 list of Stockholmsborsen. www.teleca.com.
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