Comments
Telecom equipment maker Ericsson has entered into an agreement to acquire fully privately-held Canadian Wi-Fi company BelAir Networks.
BelAir has approximately 120 employees who will join Ericsson’s global organisation, Ericsson said in a statement today.
The company, however, did not disclose financial details of the deal.
“By integrating BelAir Networks’ products and competence into Ericsson’s existing radio portfolio, we will be able to do this more quickly. We welcome 120 highly skilled people into the company,” Ericsson CEO, Mr Hans Vestberg, said.
The acquisition of BelAir Networks will be part of Ericsson’s heterogeneous network strategy to improve the mobile broadband experience by managing the co-existence of mobile technologies and Wi-Fi.
Through this transaction, Ericsson will acquire a strong carrier grade Wi-Fi portfolio, technological expertise, IPR, established customer contracts and relationships of BelAir.
Wi-Fi technology is an important part of the overall mobile broadband user experience and is rapidly becoming a standard feature in smartphones, PCs, tablets and in other consumer electronics devices.
BelAir provides both indoor and outdoor Wi-Fi systems.
“This transaction is a natural step in the continued development of BelAir Networks and we believe that Ericsson presents a strategic and cultural fit,” BelAir Networks CEO, Mr Bernard Herscovich, said.
According to the statement, the acquisition is expected to close during the first half of 2012. Terms of the transaction were not disclosed.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.