Published Date : Jul 31, 2014
Swedish vendor Ericsson has signed a deal to acquire American metadata-based commerce tools provider in a bid to strengthen its presence across various business verticals. MetraTech provides billing, settlement, and other commerce-related tools that can easily be integrated into a myriad of business models. The acquisition is not specifically pertinent to Ericsson’s telecom business, but will aid its portfolio expansion strategy. Financial details of the deal were not disclosed immediately by either company.
According to Ericsson, the billing suite that Metratech has developed can be seamlessly adapted to various industries and business models. This will, in turn, help Ericsson to expand its presence to other industries such as utilities and transport. As part of the deal, 40 contractors and employees specializing in software development will be acquired by Ericsson. Besides giving it an expanded portfolio, the deal will also help Ericsson expand its geographic business footprint in the United States.
According to Ericsson, the acquisition will now help the company focus on gaining additional capabilities to support its customers, suppliers, and other partners across various industries. It will also help them create and deliver new value-added services at an accelerated pace, especially by creating customized, multi-party agreements that cater to unique business requirements.
Ericsson’s senior vice president Per Borgklint, who is also Ericsson’s Head of Business Unit Support Solutions, said, the meta-based billing technologies offered by MetraTech will boost the company’s BSS and OSS billing capabilities across various industrial segments. The deal, Ericsson expects, will extend its leadership in the telecommunications and other sectors.