Proving the Business Case for the Internet of Things

Ericsson agrees MetraTech takeover to support IoT business

Iain Morris
July 31, 2014
 
Swedish network equipment maker Ericsson has announced a takeover of billing specialist MetraTech aimed partly at supporting its push into the Internet of Things (IoT) market.

The takeover, whose financial terms were not disclosed, will see Ericsson (Stockholm, Sweden) acquire all of MetraTech’s (Boston, MA, USA) 140 employees and contractors and expand the Swedish company’s presence in the US.

Ericsson said the move would in particular strengthen its billing capabilities to support new revenue models being driven by IoT business models.

It expects to gain additional capabilities allowing it to speed up the creation and delivery of new value-added services, and says it customers will benefit from being able to create “fluid, personalized, multi-party agreements to meet unique business needs”.

“For a range of industries, thriving in the networked society means having the ability to quickly support new revenue models and shift strategies as fast as customer and partner needs evolve,” said Per Borgklint, senior vice president and head of business unit support solutions for Ericsson. “MetraTech’s metadata-based billing solutions strengthen our extensive OSS and BSS portfolio and billing capabilities across a range of sectors, helping us extend our leadership as we support a world with increasingly more connections.”

MetraTech says Ericsson’s portfolio of services and “networked society vision” complement its own expertise.

“MetraTech has leveraged an industry-agnostic, metadata-driven platform to enable innovative monetization of products and services across a diverse customer base,” said Scott Swartz, MetraTech’s founder and chief executive. “We are eager to accelerate MetraTech's breakthrough work as part of Ericsson to drive further uptake of our innovative monetization solutions.”

MetraTech currently claims to support customers in more than 150 countries.

Ericsson expects the transaction to close before the end of the third quarter of this year, pending the usual regulatory approvals.
 
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