Ericsson announced that it has finalized its acquisition of Technicolor's France-based broadcast services division, which will fill out the Swedish company's networked community strategy and its customer base throughout Europe.
Bringing over 900 new employees, the broadcast services unit will be folded into Ericsson's global services business unit over the coming months with operations expanded across France, the United Kingdom and The Netherlands Ericsson has pledged to pay €19 million ($24 million) along with a potential earn-out based on 2015 revenues of broadcast services activity of up to €9 million ($11.3 million).
Magnus Mandersson, executive vice President and head of Ericsson's global services business unit, remarked in a statement that has strengthened Ericsson's "position in the broadcast managed services market and reinforced our growth ambitions."
Those growth ambitions probably refer to Ericsson's roadmap for building a "networked society," which CEO Hans Vestberg described in detail back in January at CES 2012 in Las Vegas.
Following the breakup of its long-time partnership with Sony, Ericsson is pushing away from the consumer field to work on connected devices in more business-minded settings such as education and healthcare, laying down the groundwork for smarter cities in general.
Announced back in March, the Technicolor assets bid isn't the only major purchase Ericsson has made lately that fits in with its networked society plan. In April, Ericsson also closed the deal to buy Wi-Fi company BelAir Networks as a move towards its cellular roots.
Along with getting a foot in the door in the Canadian market as well as 120 local employees, BelAir produces indoor and outdoor Wi-Fi systems for cellular networks, allowing people to get online without a physical coupling to the network.