Ericsson has finalised the acquisition of Technicolor’s broadcast services division.

The deal, which was announced in March, will see Technicolor’s Broadcast Services Division operate under the Ericsson brand.

Ericsson has agreed to pay £15.2m (€19m) for the business, with a potential earn-out based on 2015 revenues of up to £7.2m (€9m).

Up to 900 staff from playout operations in the UK, France and Netherlands will move over to the Stocholm-based telecoms giant.

Ericsson executive vice president and head of business unit global services Magnus Mandersson said: “With this acquisition Ericsson has strengthened its position in the broadcast managed services market and reinforced our growth ambitions.

“Managed services in one of the main focus areas for Ericsson and we will continue to invest and expand this area.”