Ericsson completes acquisition of Telenor Connexion's M2M technology platform
Ericsson announced today that that they have successfully completed the asset purchase agreement to acquire Telenor Connexion’s M2M (machine-to-machine) technology platform. The acquisition follows Ericsson’s ambition to focus on the market for M2M communication, and includes the transferral of ten employees from Telenor Connexion.
Ericsson’s M2M service, the Device Connection Platform, is designed to offer telecom operators a way to set up tailored M2M services for enterprise customers and aims to provide a service which claims low initial investment 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.”
The transferred employees will continue to work on the development of Telenor Connexion’s solution as it is integrated into 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.
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