Ericsson Reaches Deal to Divest Power Modules Business

Ericsson, a provider of infrastructure, services and software, to the telecommunications industry, said Wednesday it has reached an agreement to sell its power modules business to Flex Power.

Under the deal, the operations and assets of Ericsson Power Module business, excluding the brand, will be transferred to Flex. This includes a manufacturing site in China and business assets in Sweden. Financial terms were not disclosed. The transaction is expected to close in Q3, subject to customary closing conditions including regulatory approvals.

By Bryan Smith