* 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
* 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
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
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
The acquisition is expected to close before the end of the third quarter 2014,
subject to customary closing conditions.
NOTES TO EDITORS
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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
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.
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
Ericsson Investor Relations
Phone: +46 10 719 00 00
Ericsson acquires MetraTech to accelerate billing:
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