Tailwind Capital buys Ericsson Federal Inc.
- January 3, 2011
Ericsson has completed the sale of 100 percent of the shares in Ericsson Federal Inc. (EFI) to Tailwind Capital, a private equity firm in New York. Tailwind renamed the company Oceus Networks. The sale closed on Dec. 31. Terms of the transaction were not disclosed.
Under ts new structure, Oceus Networks will have the exclusive right to offer Ericsson’s technology and support services to a customer base focused primarily on federal government clients.
“Oceus Networks will leverage Ericsson’s world-class technology to design, build and support emerging communications solutions for the government …” Jim Hoch, managing partner of Tailwind Capital, said in a statement.
EFI’s employees, who worked in Reston, have joined Oceus Networks, and Douglas Smith will continue as president and CEO of the new company.