Telefonaktiebolaget LM Ericsson (ERIC) has released an update.
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Telefonaktiebolaget LM Ericsson has announced the sale of its US subsidiary iconectiv to Koch Equity Development LLC, expecting a cash benefit of approximately SEK 10.6 billion (USD 1.0 billion) after expenses. The transaction, which is anticipated to realize a one-off EBIT benefit of SEK 8.8 billion (USD 0.8 billion), is set to complete in the first half of 2025. Iconectiv, a provider of number portability solutions and various data services, has been part of Ericsson since 2012 and contributed SEK 1.0 billion (USD 0.1 billion) to Ericsson’s 2023 net income.
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