Ericsson buys Canada-based ConceptWave Software

Reuters News
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Posted: Sep 25, 2012 5:17 PM
Ericsson buys Canada-based ConceptWave Software

(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)