Ericsson Local Services AB 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.
Per Narvinger, Head of Customer Unit Northern & Central Europe, Market Area Europe & Latin America, Ericsson, says: "Ericsson Local Services is a market leader in field service operations in Sweden with a skilled workforce of approximately 700 employees across the country. They deliver very good support to our customers, and we believe Transtema has an excellent opportunity to continue to develop the field service operations while also executing on existing customer commitments. Together we will ensure a quick and smooth transition and a good relationship."