Private equity firm Tailwind Capital has completed the acquisition of 100% of the shares of Ericsson Federal, a division of Ericsson that focuses on the US federal government market.
Post acquisition, Tailwind Capital has renamed Ericsson Federal as Oceus Networks.
Under the terms of the new structure, Oceus Networks will have the exclusive right to offer the full slate of Ericsson’s off-the-shelf technology and support services to this customer base.
The new Oceus Networks will be based in Reston, Virginia, and will focus on research and development to design and deliver standards-based government offerings to meet the emerging and future communications needs of the federal government.
Douglas Smith will continue as president and CEO of the company.
Ericsson CFO and COO for North American operations Emil Nilsson said they are excited about the opportunity to work with Oceus Networks to deliver broadband offerings for future government networks.
"Under Tailwind’s ownership, Oceus will be fully focused on the federal sector and the partnership brings us enhanced ability to offer the latest standards-based offerings to the US federal government," Nilsson said.