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Ericsson: Ericsson acquires MetraTech to accelerate cloud and enterprise billing capabilities

2014-07-29 16:00:00
Ticker Giełda ISIC Kraj Miasto
ERIC XSTO Sweden STOCKHOLM






* Extends Ericsson's billing leadership beyond telecom into key markets

including transport and utilities

* Strengthens Ericsson's billing capabilities with solution adaptable to

requirements driven by Everything as a Service (XaaS) and Internet of Things

(IoT) economy

* Broadens Ericsson's software portfolio further with billing-platform based

on metadata architecture.

Ericsson (NASDAQ:ERIC) today announced it has entered into an agreement to

acquire US-based MetraTech Corp., a provider of metadata-based billing, commerce

and settlement solutions uniquely adaptable to multiple business models and

industries.



The acquisition includes all 140 employees and contractors comprising a team of

highly-skilled software experts. It will further build upon Ericsson's expertise

in billing and expands its geographic presence in the US.



The acquisition addresses unique requirements in support of the new revenue

models and global commerce that are being driven by IoT and XaaS business

models. Ericsson will gain capabilities to support customers, partners and

suppliers in multiple industries and accelerate the creation and delivery of new

value-added services. Customers can create fluid, personalized, multi-party

agreements to meet unique business needs. This is especially valuable for

industries undergoing technology or business model transformation.



Per Borgklint, Senior Vice President and Head of Business Unit Support

Solutions, Ericsson says: "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. 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."



Scott Swartz, founder and CEO of MetraTech, says: "From its founding, MetraTech

has leveraged an industry-agnostic, metadata-driven platform to enable

innovative monetization of products and services across a diverse customer base.

Ericsson's comprehensive portfolio and services, reach and Networked Society

vision perfectly complements our vision of enabling customers across industries

to transform their business. We are eager to accelerate MetraTech's breakthrough

work as part of Ericsson to drive further uptake of our innovative monetization

solutions."



MetraTech was founded in 1998 and is headquartered in Boston in the US. The

company accelerates commerce by providing an unlimited ability for customers to

innovate how financial relationships are created, structured and managed. It

supports a broad customer base of leading companies from a range of industries

in 150 countries, 36 languages and 28 currencies. The company has 140 employees

and contractors.



The acquisition is expected to close before the end of the third quarter 2014,

subject to customary closing conditions.



NOTES TO EDITORS



Download high-resolution photos and broadcast-quality video at

www.ericsson.com/press



Ericsson is the driving force behind the Networked Society - a world leader in

communications technology and services. Our long-term relationships with every

major telecom operator in the world allow people, business and society to

fulfill their potential and create a more sustainable future.



Our services, software and infrastructure - especially in mobility, broadband

and the cloud - are enabling the telecom industry and other sectors to do better

business, increase efficiency, improve the user experience and capture new

opportunities.



With more than 110,000 professionals and customers in 180 countries, we combine

global scale with technology and services leadership. We support networks that

connect more than 2.5 billion subscribers. Forty percent of the world's mobile

traffic is carried over Ericsson networks. And our investments in research and

development ensure that our solutions - and our customers - stay in front.



Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales

in 2013 were SEK 227.4 billion (USD 34.9 billion). Ericsson is listed on NASDAQ

OMX stock exchange in Stockholm and the NASDAQ in New York.



www.ericsson.com

www.ericsson.com/news

www.twitter.com/ericssonpress

www.facebook.com/ericsson

www.youtube.com/ericsson



FOR FURTHER INFORMATION, PLEASE CONTACT



Ericsson Corporate Communications

Phone: +46 10 719 69 92

E-mail: media.relations@ericsson.com



Ericsson Investor Relations

Phone: +46 10 719 00 00

E-mail: investor.relations@ericsson.com





Ericsson acquires MetraTech to accelerate billing:

http://hugin.info/1061/R/1841610/640860.pdf







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Source: Ericsson via GlobeNewswire

[HUG#1841610]





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