AGENCE FRANCE-PRESSE, Swedish telecom giant Ericsson said June 12 it would sell its defense unit Ericsson Microwave Systems and its 40-percent holding in Saab Ericsson Space to aeronautics group Saab AB for 3.8 billion kronor (412 million euros, $521 million) in cash.
Ericsson said the sale would enable it to focus on its core operations, mobile phone networks, in which it is a world leader.
It expected to book a capital gain of three billion kronor, equivalent to recently-announced restructuring costs mainly related to the acquisition of British telecom equipment group Marconi.
Ericsson Microwave Systems provides radar, command and control systems for defense applications. Among its products are the weapon locating system Arthur, the air surveillance system Giraffe and the operational airborne surveillance system Erieye.
The sale also includes Ericsson
