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3/13/2012 2:45 AM ET

Ericsson (ERIC: Quote) said it has submitted a binding offer to buy the Broadcast Services Division of Technicolor (TCLRY.PK,THNRF.PK). The purchase price is 19 million euros and a potential earn-out based on 2015 revenues of the Broadcast Services activity of up to 9 million euros.

The acquisition will bring approximately 900 highly skilled professionals and playout operations located in France, UK and the Netherlands serving several leading broadcasters. It will also allow Ericsson to substantially increase its current broadcast operations in terms of channels managed and households reached.

Moreover, the addition of Technicolor's Broadcast Services Division will allow Ericsson to become a leading provider in managed services for broadcasters.

Closing of the acquisition is expected around mid 2012. After this acquisition Ericsson will be the leading independent playout service provider in Europe.

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by RTT Staff Writer

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