Table:
| Acquisitions 2017–2019 |  |  |  |
| --- | --- | --- | --- |
|  | 2019 | 2018 | 2017 |
| Total consideration, including cash | 1,957 | 1,314 | 62 |
| Net assets acquired |  |  |  |
| Cash and cash equivalents | 142 | 94 | – |
| Property, plant and equipment | 353 | 4 | 12 |
| Intangible assets | 497 | 481 | 101 |
| Investments in associates | 101 | 64 | – |
| Other assets | 1,357 | 254 | 1 |
| Provisions, incl. post-employment benefits | –102 | – | – |
| Other liabilities | –743 | –494 | 25 |
| Total identifiable net assets | 1,605 | 403 | 139 |
| Costs recognized in net income | 153 | – | – |
| Goodwill | 199 | 911 | –77 |
| Total | 1,957 | 1,314 | 62 |
| Acquisition-related costs 1) | 85 | 24 | 49 |
Paragraphs:
Acquisitions and divestments
Acquisitions
In 2019, Ericsson made acquisitions with a negative cash flow effect amounting to SEK 1,815 (1,220) million. The acquisitions presented below are not material, but the Company gives the information to provide the reader a summarized view of the content of the acquisitions made. The acquisitions consist primarily of:
Kathrein: On October 2, 2019, the Company acquired assets from Kathrein, a world leading provider of antenna and filter technologies with approximately 4,000 employees. Kathrein’s antenna and filters business has a strong R&D organization with extensive experience in antenna design and research, coupled with a strong IPR portfolio. In addition to broadening Ericsson’s portfolio of antenna and filter products, the acquisition will bring vital competence for the evolution of advanced radio network products. The acquired Kathrein business has had a negative impact of SEK –0.5 billion since the acquisition, corresponding to –1 percentage point in Networks operating margin. Balances to facilitate the Purchase price allocation are preliminary.
CSF: On August 20, 2019, the Company acquired 100% of the shares in CSF Holdings Inc. a US-based technology company with approximately 25 employees. CSF strengthens iconectiv’s Business to Consumer (B2C) product platforms to enable growth in messaging and Toll-Free Number (TFN) management. Balances to facilitate the Purchase price allocation are final.
ST-Ericsson: Before ST-Ericsson was a joint venture where Ericsson and ST Microelectronics had a 50/50 ownership. This joint venture consisted of a number of legal entities where the two parties owned different stakes in the different legal entities. In December 2019 the Company initiated transactions to wind-down the legal structure of ST-Ericsson by acquiring the remaining shares in two legal ST-Ericsson entities and costs of SEK –0.3 billion impacted the result. The Company now owns 100% of the shares in those entities.
In order to finalize a Purchase price allocation all relevant information needs to be in place. Examples of such information are final consideration and final opening balances, they may remain preliminary for a period of time due
to for example adjustments of working capital, tax items or decisions from local authorities.
1) Acquisition-related costs are included in Selling and administrative expenses in the consolidated income statement.
Question:
When is CSF being acquired?
Answer: August 20, 2019