Transtema Group AB (XSAT:TRANS) signed an agreement to acquire Ericsson Local Services AB from Telefonaktiebolaget LM Ericsson (publ) (OM:ERIC B) on July 11, 2018. As a result of the transaction, Ericsson becomes a minority shareholder and will be represented on the Board of Directors of Transtema Group. Under the agreement, all operations and assets of Ericsson Local Services will be transferred to Transtema ownership. Ericsson Local Services will continue to operate as a separate legal entity within Transtema Group. All Ericsson Local Services employees will be retained by Transtema Group on closing. The transaction is subject to customary closing conditions, including regulatory approvals. On July 30, 2018, Transtema Group received approval from the Swedish Competition Authority. As of July 11, 2018, the transaction is expected to close in the third quarter of calendar year 2018.

Transtema Group AB (XSAT:TRANS) completed the acquisition of Ericsson Local Services AB from Telefonaktiebolaget LM Ericsson (publ) (OM:ERIC B) on August 31, 2018.