Telecommunications network infrastructure supplier Ericsson no longer owns a division that's focused on the U.S. government market.
Ericsson has sold all its shares of Ericsson Federal Inc. to Tailwind Capital, a private equity firm that gains the exclusive right to sell Ericsson’s technology and support services to federal government customers, Ericsson announced Monday.
Tailwind has renamed the group Oceus Networks.
Ericsson Federal Inc.’s employees have joined Reston, Va.-based Oceus Networks, and Douglas Smith will continue to serve as the president and CEO of the company, Ericsson noted in a press release.
“We are excited about the opportunity to work with Oceus Networks to deliver broadband solutions for future government networks," said Emil Nilsson, CFO and COO of Ericsson’s North American operations.
The sale was completed on Dec. 31, 2010. The companies did not disclose the value of the acquisition or other terms.