SM Tele to create 30 new jobs after gaining new Finnish owner

Norrköping-based telecommunications hardware manufacturer SM Tele is preparing to hire 30 new staff and expand its product range after coming under new Finnish ownership.

SM Tele to create 30 new jobs after gaining new Finnish ownerNorrköping-based telecommunications hardware manufacturer SM Tele is preparing to hire 30 new staff and expand its product range after coming under new Finnish ownership.

SM Tele, which employs 67 people at six locations in central and southern Sweden, is being acquired by Finnish telecom group Empower, owned by Amsterdam-based private equity firm AAC Capital Partners.

Kjell Helbro, SM Tele chief executive officer, said the backing of Empower would facilitate growth and make SM Tele more competitive in the telecom equipment market.

“We’re a small company…but to be able to handle larger assignments we realized we needed to have a capital injection and a larger player behind us,” Helbro said.

He said the financial backing provided by Empower would enable SM Tele to take on 30 new staff in Sweden as part of a strategic move into producing equipment for mobile networks.

SM Tele and specializes in building and maintaining fixed telecom infrastructure, such as fiber optic and broadband networks.

Its chief customer is Swedish telecom operator TeliaSonera.

Sources: Dagens Industri, SM Tele