On Wednesday Ericsson (Stockholm, Sweden) announced it had completed the asset purchase agreement to acquire Telenor Connexion's (Stockholm, Sweden) M2M technology platform, previously announced on April 19, 2011. The acquisition follows Ericsson's ambition to participate in the market for M2M communication, adding ten employees that are being transferred as part of the deal, says the company.
Ericsson's M2M service, the Device Connection Platform, offers telecom operators a way to set up M2M services for enterprise customers, according to Ericsson.
The essence of the deal is that Ericsson will provide Telenor’s M2M platform, including its billing systems and service portal, to other telecom service providers. Telenor will continue to promote and develop the same platform- independent of Ericsson – in sectors other than telecom, including automotive, energy and utilities, healthcare and logistics.
The acquisition includes Telenor Connexion's M2M technology platform and transfer of ten employees who will continue to work with development of the service offering provided on Ericsson's Device Connection Platform, according to the company. Telenor Connexion is the first customer to Ericsson on the platform. No financial details about acquiring the assets have been announced.
Telenor Connexion is wholly owned by Telenor Group, a mobile operator with 127 million mobile subscribers in consolidated operations.