Cybercom and ST-Ericsson sign agreement to outsource services and transfer ST-Ericsson R&D employees in Linköping to Cybercom
Stockholm/Geneva –October 10, 2012 – Cybercom, an IT consulting Company (XSTO: CYBE) and ST-Ericsson, a joint venture of STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC) announced today that they have signed an agreement to transfer the activities and resources of the ST-Ericsson research and development center in Linköping (Sweden) to Cybercom. Cybercom, as an important supplier to ST-Ericsson, will develop testing tool software for ST-Ericsson through June 2013.
The move takes place within the framework of ST-Ericsson’s transformation plan and Cybercom’s connectivity business. The agreement foresees the transfer of 27 employees from ST-Ericsson to Cybercom.
“The agreement with Cybercom allows us to continue to progress on the site and resources strategy we announced in April” said Carlo Ferro, Chief Operating Officer of ST-Ericsson. “At the same time, it ensures continuity for both the employment of our highly competent colleagues in Linköping and their contribution to a strong technology cluster in the region. We wish them all the best in contributing to Cybercom’s success”.
“This agreement is twice positive for Cybercom. We can secure interesting new business for the next three quarters, and we’ll gain experienced and valuable new colleagues who will substantially strengthen our Linköping operations, which is one of our most profitable and growing sites,” said Niklas Flyborg, president and CEO, Cybercom. “This agreement helps us meet the demand from our other key clients in the region and we can already start planning the assignment of new projects.”
This transfer is further progress in ST-Ericsson’s site strategy announced in April this year, which aims to enhance operational efficiency of the company by reducing its worldwide activities into fewer sites lowering the break-even point.
During the last two years, the Cybercom Linköping operations have grown sales 50 percent. The operations include 75 consultants with offering connectivity engineering and security services to clients mainly in the industry segment in the region.
For further information please contact:
Cybercom
Niklas Flyborg, President and CEO +46 70 594 96 78
Kristina Cato, Communication and IR manager +46 70 864 47 02
ST-Ericsson
Press contact
Nelly Dimey - Phone: +33 1 58 07 77 85
Email: media.relations@stericsson.com
Investor Relations
Fabrizio Rossini, Geneva, Switzerland
Phone: +41 22 929 6973
Email: investor.relations@stericsson.com
About Cybercom
Cybercom is an IT consulting company that assists leading companies and organisations to benefit from the opportunities of the connected world. The company’s areas of expertise span the entire ecosystem of communications services. Cybercom’s domestic market is the Nordic region, and in addition the company offers global delivery capacity for local and international business. Cybercom was founded in 1995 and has been quoted on the NASDAQ OMX Stockholm exchange since 1999.
About ST-Ericsson
ST-Ericsson is a world leader in developing and delivering a complete portfolio of innovative mobile platforms and cutting-edge wireless semiconductor solutions across the broad spectrum of mobile technologies. The company is a leading supplier to the top handset manufacturers and generated sales of $1.7 billion in 2011. ST-Ericsson was established as a 50/50 joint venture by STMicroelectronics (NYSE:STM) and Ericsson (NASDAQ:ERIC) in February 2009, with headquarters in Geneva, Switzerland. www.stericsson.com, www.twitter.com/STEricssonForum