MALMO, Sweden, Sept. 25, 2002 (PRIMEZONE) -- Teleca and Ericsson have signed a letter of intent to enter into an outsourcing agreement where the GPRS R&D unit from Ericsson Norway will be transferred to Teleca. As part of the agreement approximately 70 employees will be moved from Ericsson to Teleca in Norway.
The agreement is part of Teleca's strategy to grow in the Nordic region and to expand the outsourcing business.
"The planned agreement has been made possible through Teleca's strong position in the market for outsourced R&D," said Nick Stammers, CEO of Teleca. "The agreement will be important because it will increase Teleca's strength in the Nordic region and further increase our competence in the global market for GPRS and 3G."
Teleca expects the outsourcing agreement to have an immediate positive effect on Teleca's earnings and normal Teleca margins are expected within two years.
The agreement is expected to be finalised in October 2002, more information will be available at that time.
For additional information, contact: Nick Stammers, CEO, Teleca AB, tel +44 7768 32 35 35 Anders Cedervall, Executive Vice President, Teleca AB, tel +46 705 33 03 30
Teleca is a European consulting group focused on new technology and R&D. Our business concept is to strengthen our customer's market position and time-to-market. This is achieved by providing professional teams with specialist technical expertise, working in partnership with development-intensive companies world-wide. The group has more than 2,200 employees in 13 countries with a strong presence in the Nordic region, UK, and France. Teleca is quoted on the Attract40 list of Stockholmsborsen. www.teleca.com.
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