Ericsson’s wholly owned Russian subsidiary has entered into an asset transfer agreement to divest its local customer support business in the country to a Russian company owned by former operational managers of Ericsson´s Russian subsidiary.
According to Ericsson, the transaction includes a transfer of approximately 40 employees, and certain assets and contracts related to the business.
It adds that 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 fulfil legal, contractual and administrative requirements.
Comnews reports that the Russian company buying Ericsson’s business is called Sonerik. It also says that there are differing views on the market as to whether or not Ericsson will return to Russia in the future.
