Ericsson has announced the acquisition of the Canadian company ConceptWave. The deal was an all cash transaction. The company was founded in 2000 and has developed software solutions primarily for telecom operators. Acquisition of ConceptWave will lead to strengthens Ericsson’s offering in the area of operations and business support systems (OSS/BSS).
Elisabetta Romano, Head of OSS in Business Unit Support Solutions, Ericsson, says: ” This puts high demand on telecom operators to be able to offer flexible product bundles with customized pricing packages. In this area ConceptWave’s solutions and employees’ expertise adds considerable value to Ericsson’s portfolio.”
ConceptWave is headquartered in Toronto, Canada, with a current staff of 170. The company’s customers, primarily telecom operators, are located in Canada, USA, Latin America, Europe and Asia. The transaction closed at signing.