Paris (France), July 3rd, 2012 - Technicolor (Euronext Paris: TCH) announces the completion of the sale of its Broadcast Services activity to Ericsson on July 2, 2012, as contemplated in the offer received in March 2012.
According to the terms detailed in the Company’s March 13, 2012 press release, the deal includes a purchase price of €19 million and a potential earn-out based on 2015 revenues of the Broadcast Services activity of up to €9 million. Net disposal proceeds of the transaction before potential earn-out will be applied to the prepayment of the reinstated debt.
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Our world class research and innovation laboratories enable us to lead the market in delivering advanced video services to content creators and distributors. We also benefit from an extensive intellectual property portfolio focused on imaging and sound technologies, based on a thriving licensing business.
Our commitment: Enhance media experience on any screen, in theaters, at home and on the go.
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