Ericsson acquires Canadian OSS/BSS company ConceptWave
* Ericsson acquires 100% of the shares of ConceptWave, headquartered in Toronto, Canada, with a current staff of 170 persons
* Strengthens Ericsson's OSS and BSS portfolio with world leading offerings in Order Management and Product Catalog
Today Ericsson (NASDAQ: ERIC) announced the acquisition of the Canadian company ConceptWave in an all cash transaction. The company was founded in 2000 and has developed leading-edge software solutions primarily for telecom operators.
Acquiring ConceptWave complements and strengthens Ericsson's offering in the area of operations- and business support systems (OSS/BSS) with world leading Order Management and Product Catalog solutions, providing solutions to better support network operators with their handling of activities related to personalizing end-user offerings and revenue management solutions.
Elisabetta Romano, Head of OSS in Business Unit Support Solutions, Ericsson, says: "There is a trend towards more personalization of services where end- users want to purchase communications services meeting their individual needs. 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."
Zarar Rana, President and CEO of ConceptWave, says: "Our products and solutions help maximize telecom operators' assets through the creation, implementation and automation of service fulfillment processes for new and differentiated offerings. Joining Ericsson today adds great value to ConceptWave, as we become part of their global organization and leverage their industry-leading technology and services competence."
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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.