Ericsson (NASDAQ: ERIC) has sold control of its federal practice, Ericsson Federal to Tailwind Capital.
Ericsson Federal will now be known as Oceus Networks. Terms of the deal were not disclosed.
According to Ericsson, “under the terms of the new structure, Oceus Networks will have the exclusive right to offer the full slate of Ericsson’s industry leading standards-based, off-the-shelf technology and support services to this customer base.”
“Tailwind has established a track record of helping portfolio companies accelerate growth, and Oceus Networks represents a compelling opportunity to acquire a leading communications-focused systems integrator that is well positioned to leverage its strategic, long-term relationship with Ericsson and capitalize on a number of powerful market dynamics and trends”, said Smith.