Ericsson divests its local customer support business in Russia

• Ericsson continues orderly exit from operations in Russia
• Local operational managers acquire Ericsson's customer support business in Russia and will provide customer support for mobile operators in Russia
• All Ericsson customer engagement in Russia intended to be terminated by end of year

STOCKHOLM, Dec. 15, 2022 /PRNewswire/ -- Ericsson's ERIC wholly owned Russian subsidiary has entered into an asset transfer agreement to divest its local customer support business in Russia to a Russian company owned by former operational managers of Ericsson´s Russian subsidiary.

The transaction includes a transfer of approximately 40 Ericsson employees, and certain assets and contracts related to the business.

The customer support business is a local business engagement that does not involve the export of hardware, software, or related services to mobile operators in Russia.

Following Russia's invasion in Ukraine, Ericsson announced the suspension of operations and deliveries to customers in Russia and an orderly wind-down in accordance with applicable sanctions. Approximately 400 Ericsson employees in Russia have been notified of layoffs and have been leaving the company as operations have been discontinued.

Going into 2023, Ericsson expects to have a small presence in Russia on a local basis. A legal entity owned by Ericsson will continue to be registered to complete the wind-down and to fulfill legal, contractual, and administrative requirements.

NOTES TO EDITORS:

FOLLOW US:

Subscribe to Ericsson press releases here
Subscribe to Ericsson blog posts here
https://twitter.com/ericsson
https://www.facebook.com/ericsson
https://www.linkedin.com/company/ericsson

MORE INFORMATION AT:
Ericsson Newsroom
media.relations@ericsson.com  (+46 10 719 69 92)
investor.relations@ericsson.com  (+46 10 719 00 00)

ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company's portfolio spans the following business areas: Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platform, and Technologies and New Businesses. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

The following files are available for download:

SOURCE Ericsson