Ericsson sells share in Across Wireless to Sonera
Ericsson sells share in Across Wireless to Sonera Ericsson announced today an agreement to sell its 25% share in Across Wireless to Sonera. The transaction is closed today. As part of the transaction, Ericsson commits to invest in the enlarged entity, a merged Across Wireless and Sonera SmartTrust Ltd., upon its planned Initial Public Offering. Across Wireless develops and sells wireless delivery systems used by mobile phone operators and Internet content providers. The company employs 90 persons at its Stockholm base with additional international sales and support centers in the USA, Hong Kong and UK. Its products include personalization of SIM cards and Wireless Public Key Infrastructure. Across Wireless is partly owned by Ericsson and Schroder Ventures, a private equity group. Both companies will sell their share in Across Wireless, and Sonera will acquire full ownership. As part of the transaction, Ericsson commits to invest in the enlarged entity, a merged Across Wireless and Sonera SmartTrust Ltd., upon its planned Initial Public Offering in an amount equal to 50% of its consideration received in the acquisition of Across Holding by Sonera. Across Wireless will continue to supply Ericsson with a number of services, including technology for programming of SIM cards. "We believe the combination of the strengths of the two companies, Across Wireless and Sonera SmartTrust Ltd., will continue to deliver value to Ericsson's customers and further strengthen our initiative to create an open framework for secure wireless e-commerce," says Jöran Hoff, Executive Vice President, Ericsson New & Special Business Operations, Network Operator & Service Provider Segment. Ericsson is the leading provider in the new telecoms world, with communications solutions that combine telecom and datacom technologies with freedom of mobility for the user. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for its customers - network operators, service providers, enterprises and consumers - the world over. Please visit Ericsson's Press Room at: http://www.ericsson.se/pressroom FOR FURTHER INFORMATION, PLEASE CONTACT Mads Impgaard Madsen, Press Manager, Ericsson Phone +46 70 666 2903, E-mail mads.madsen@lme.ericsson.se Pia Gideon, Vice President External Relations, Ericsson Phone +46 70 519 2864, E-mail: pia.gideon@lme.ericsson.se Anders Ingeström, CEO, Across Wireless AB Phone +46 8 685 93 00, E-mail: anders.ingeström@acrosswireless.com Harri Vatanen, President and CEO, Sonera SmartTrust Ltd. Phone: +358 2040 3300, E-mail: harri.vatanen@sonera.com Kaj-Erik Relander, Deputy CEO, Sonera Corporation, Phone + 358 2040 5365, E-mail: kaj-erik.relander@sonera.com About Sonera Sonera (HEX: SRA, NASDAQ: SNRA) is an international forerunner in mobile communications and mobile-based services and applications. By combining its expertise in mobile communications, the Internet and service provision, Sonera aims to develop into a global communications operator and provider of transaction and content services. The company also provides advanced data communications solutions to businesses, and fixed network voice services in Finland and its nearby areas. In 1999, Sonera's revenues amounted to EUR 1.85 billion and profit before extraordinary items and taxes was EUR 0.5 billion. For further information about Sonera, please visit: http://www.sonera.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/18/20000418BIT00240/bit0001.doc http://www.bit.se/bitonline/2000/04/18/20000418BIT00240/bit0002.pdf