Ericsson is making an unconventional move by acquiring Waltham-based MetraTech Corp, a provider of metadata-based billing, commerce and settlement solutions, marking its foray into completely new verticals - the transport and utilities sectors.
MetraTech's metadata driven solution will enhance Ericsson's billing portfolio in support of the new revenue models and global commerce that are being driven by the IoT and Everything as a Service (XaaS).
The acquisition is expected to be closed before the end of the third quarter of 2014 and Ericsson will take in all 140 employees and contractors of MetraTech and will take the opportunity to expand its geographic presence in the US.
"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. MetraTech's metadata-based billing solutions strengthen our extensive OSS and BSS portfolio and billing capabilities across a range of sectors, helping us extend our leadership as we support a world with increasingly more connections."
- Per Borgklint, Senior Vice President and Head of Business Unit Support Solutions, Ericsson
"From its founding, MetraTech has leveraged an industry-agnostic, metadata-driven platform to enable innovative monetization of products and services across a diverse customer base. Ericsson's comprehensive portfolio and services, reach and Networked Society vision perfectly complements our vision of enabling customers across industries to transform their business. We are eager to accelerate MetraTech's breakthrough work as part of Ericsson to drive further uptake of our innovative monetization solutions."
- Scott Swartz, founder and CEO of MetraTech
