US private equity firm Tailwind Capital has completed the acquisition of Ericsson Federal Inc (EFI), the Swedish vendor’s unit targeting the US government.
No terms were disclosed for the deal, which was completed on December 31, 2010.
EFI has been…
US private equity firm Tailwind Capital has completed the acquisition of Ericsson Federal Inc (EFI), the Swedish vendor’s unit targeting the US government.
No terms were disclosed for the deal, which was completed on December 31, 2010.
EFI has been renamed Oceus Networks, and Ericsson has no remaining stake in the company, although Oceus will continue to use Ericsson technology to fulfil contracts.
Tailwind has a track record of investing in middle market business communications and healthcare services companies, including US wireless infrastructure firm Towerco. It has over US$1bn under management.
A managing partner at Tailwind, Jim Hoch, said: “Oceus Networks will leverage Ericsson’s world-class technology to design, build and support emerging communications solutions for the government, but will now have an improved ability to engage with customers in long-term planning and ultimately better serve their needs.”
The CFO of Ericsson’s North American operations, Emil Nilsson, said that he was excited about the opportunity to work alongside Oceus Networks to deliver broadband for future government networks.
Nilsson said: “Under Tailwind’s ownership, Oceus will be fully focussed on the federal sector and the partnership brings us enhanced ability to offer the latest standards-based solutions to the U.S. federal government.”
