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Ericsson Acquires MetraTech - Accelerates Cloud and Enterprise Billing Capabilities [NASDAQ: ERIC] - Ericsson.com / MetraTech.com
Ericsson Acquires MetraTech

 

PRZOOM - /newswire/ - Waltham, MA, United States, 2014/07/29 - Accelerates Cloud and Enterprise Billing Capabilities [NASDAQ: ERIC] - Ericsson.com / MetraTech.com.

   
 
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• 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 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.

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.

About MetraTech
MetraTech Corp. (metratech.com) simplifies and enables global commerce innovation, while helping businesses respond to an ever-changing customer and partner relationship landscape. MetraTech empowers businesses to embrace change through a unique Agreements-Based Billing™, commerce and settlement solution that models and supports fluid, personalized, multi-party agreements for customers, partners and suppliers. MetraTech customers innovatively create and securely collect revenue, provide settlement to partners and manage their customer lifecycle in 36 languages, 28 currencies and 150 countries.

About Ericsson
Ericsson (ericsson.com) 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.

 
 
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Ericsson Acquires MetraTech

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Contact: Press Office - MetraTech.com 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any MetraTech Corp. securities in any jurisdiction including any other companies listed or named in this release.

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