Ericsson says to buy Microsoft Mediaroom business
STOCKHOLM, April 8
STOCKHOLM, April 8 (Reuters) - Telecom equipment maker Ericsson said on Monday it had struck a deal to buy Microsoft Corp's Mediaroom IPTV business, which makes software used by phone companies to deliver television over the Internet.
Ericsson said in a statement the deal would make the company, the world's biggest mobile networks maker, the leading provider of IPTV and multi-screen solutions with a market share of over 25 percent.
Ericsson, which did not disclose the purchase price, said it expected to close the deal during the second half of 2013. Mediaroom is situated in Mountain View, California and employs more than 400 people worldwide, it added.