Ericsson has agreed to acquire US-based MetraTech, a provider of metadata-based billing, commerce and settlement solutions.
The firm said 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 Internet of Things (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 multi-party agreements to meet unique business needs that are valuable for industries undergoing technology or business model transformation.
Per Borgklint, SVP and head business unit support for Ericsson said “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.”
The deal is expected to close before the end of the third quarter.