· Acquired assets from Telenor Connexion strengthens Ericsson's M2M communication offering
· Ericsson's Device Connection Platform allows operators to offer M2M connectivity beyond smartphones and laptops
· Cloud-based and offered as a service to minimize entry barriers
· Telenor Connexion becomes the first customer to Ericsson on the platform
Ericsson (NASDAQ:ERIC) has today completed the asset purchase agreement to acquire Telenor Connexion's M2M (machine-to-machine) technology platform, previously announced on April 19, 2011. The acquisition follows Ericsson's ambition to drive the market for M2M communication, adding valuable technology and know-how from ten employees that are being transferred as part of the deal.
Ericsson's M2M service, the Device Connection Platform, offers telecom operators a way to set up tailored M2M services for enterprise customers and is brought to market as a service providing a low initial investment in technology and a fast time to market.
Magnus Furustam, Vice President, Head of Core & IMS at Ericsson, says: "We are happy to welcome the employees today working with Telenor Connexion's M2M technology platform. They are together with the technology platform important to us as our ambition is to grow the M2M market, offering our customers a solution that they can quickly use on the market for a low initial investment."
Today, mobile connectivity is used in several M2M solutions such as smart meters and fleet management and is useful in all products with software, which can be easily upgraded if they were connected to a mobile network.
The acquisition includes Telenor Connexion's M2M technology platform and transfer of ten employees who will continue to work with development of the service offering provided on Ericsson's Device Connection Platform. Telenor Connexion also becomes the first customer to Ericsson on the platform. No financial details about acquiring the assets have been announced.
Telenor Connexion is wholly owned by Telenor Group, one of the world's major mobile operators with 127 million mobile subscribers in consolidated operations; 301 million including VimpelCom Ltd (associated company).
Notes to editors:
Previously announced information on Ericsson's acquisitions of Telenor Connexion's M2M technology platform: http://www.ericsson.com/news/1507369
Ericsson is the world's leading provider of technology and services to telecom operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and provides support for networks with over 2 billion subscribers and has the leading position in managed services. The company's portfolio comprises mobile and fixed network infrastructure, telecom services, software, broadband and multimedia solutions for operators, enterprises and the media industry. The Sony Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in an all-communicating world" through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 90,000 employees generated revenue of SEK 203.3 billion (USD 28.2 billion) in 2010. Founded in 1876 with the headquarters in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ New York
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