L.M. Ericsson has agreed to acquire all of the shares of Drutt Corp., which manages the billing for millions of daily content transactions on more than 60 telecom operators in 35 countries. Ericsson calls the move another step in its ambition to become a leading force in multimedia.
“Being such an innovative and focused company, with close to 70% of its workforce dedicated to R&D and service delivery, Drutt adds an important piece to the Ericsson service delivery platform strategy,” said Jan Wareby, senior VP of multimedia at Ericsson. “Our combination will provide operators with integration-ready platforms, thus reducing system integration complexity.”
The transaction is subject to regulatory and board approval.
Drutt Corp., which is owned by Provider Venture Partners Funds, TeliaSonera and some employees, has subsidiaries in Sweden, China, Canada and Mexico. Around 90% of the 85-person company resides in Sweden.
The acquisition is the latest in a long string of purchases for Ericsson; just this week the company announced plans to pay $417 million for German billing company LHS
Another catch: Ericsson snaps up Drutt for multimedia
ABOUT AUTHOR
