Ericsson has signed an agreement with the Swedish company Transtema Group to divest Ericsson Local Services AB (LSS), a subsidiary of Ericsson supplying field service operations and maintenance of fixed and mobile networks in Sweden.
Ericsson Local Services is a market leader in field services in Sweden. LSS builds and maintains network infrastructure and delivers services in all areas of Sweden's field service operations market.
Under the agreement, all operations and assets of LSS will be transferred to Transtema ownership. LSS will continue as a legal entity in Transtema Group. As a result of the transaction, Ericsson becomes a minority shareholder and will be represented on the Board of Directors of Transtema Group.
This divestment is in line with Ericsson’s business strategy, a key part of which is Managed Services and operating networks on behalf of our customers. The divestment of LSS is part of executing on that strategy as Ericsson will no longer sell new standalone field services projects.