Ericsson (ERIC) Set to Divest U.S. Subsidiary for Core Focus

Ericsson (ERIC) recently announced that it has inked a binding agreement with Koch Equity Development to divest its U.S.-based telecommunications solution provider, iconectiv. The transaction, valued at approximately $1 billion, is expected to be completed in the first half of 2025, subject to regulatory approvals and mandatory closing conditions. Upon completion, Ericsson anticipates recording a one-time EBIT benefit of around SEK 8.8 billion. iconectiv, headquartered in New Jersey, was acquired by Ericsso ...