Ericsson buys Canada-based ConceptWave Software

Tue Sep 25, 2012 5:20pm EDT

Ericsson's Silicon Valley campus is seen in Santa Clara, California, August 11, 2009. REUTERS/Robert Galbraith

Ericsson's Silicon Valley campus is seen in Santa Clara, California, August 11, 2009.

Credit: Reuters/Robert Galbraith

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(Reuters) - Ericsson, the world's leading mobile telecoms equipment maker, bought Canadian telecommunications software provider ConceptWave Software Inc.

Toronto-based ConceptWave will become a fully owned unit of Ericsson and its 170 employees will be a part of Ericsson.

Financial terms of the deal were not disclosed.

Shares of Ericsson closed at $9.21 on the Nasdaq on Tuesday.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Don Sebastian)

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