June 11, 2019
The daily brief: 11 June 2019
Finnish telecommunications company Elisa is acquiring 100 per cent of Sweden's Polystar OSIX.
All the daily Finnish business news that works: the University of Oulu, Fazer and Elisa make headlines.
The University of Oulu and the Electronics and Telecommunications Research Institute (ETRI) have agreed on 5G and 6G research collaboration, Fazer Group’s food service division is changing hands, and Elisa is acquiring Swedish company Polystar OSIX.
Fazer Group is selling its premier food service provider, Fazer Food Service, to Compass Group, so it can focus on its consumer goods and direct-to-consumer businesses. Fazer Food Service has approximately 1 000 restaurants in the Nordics and employs around 7 000 people, who will be part of the transaction. The two parties have agreed on an enterprise value of the approximately 475 million euros for the acquisition, which is still subject to a competition approval from the EU Commission.
Finland’s University of Oulu and the Electronics and Telecommunications Research Institute (ETRI) from South Korea have signed a memorandum of understanding (MOU) concerning research collaboration in 5G and 6G mobile communications. The University of Oulu is home to the world’s first research project focusing on 6G, the 6G Flagship. The government-funded ETRI research institute employs around 2 000 researchers, of which about 170 work on future mobile communication technologies.
University of Oulu
Finland’s Elisa is acquiring 100 per cent of Polystar OSIX and its subsidiaries for approximately 70 million euros. The Finnish telecommunications company has also agreed to pay an additional price of up to five million euros if certain growth targets are met. Polystar OSIX provides analytics, assurance and monitoring software to mobile operators globally. The transaction will support the growth of Elisa’s international digital businesses and automation division.
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