As per the latest information, the telecom equipment maker Ericsson has announced that that it had struck a deal to buy Microsoft's Mediaroom IPTV business.
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Mediaroom is situated in Mountain View, California. Presently, it has over 400 people worldwide
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It is reportedly said that the latest acquisition will further help Ericsson to strengthen its presence in video distribution market across multiple networks and devices.
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"This acquisition contributes to a leading position for Ericsson with more than 40 customers, serving over 11 million subscriber households. However, the deal is the subject to regulatory approvals and other conditions," said Per Borgklint, Ericsson Senior Vice President and Head of Business Unit Support Solutions.Ā
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Per Borgklint further added, āEricssonās vision of the Networked Society foresees 50 billion devices to be connected via broadband, mobility and cloud. Future video distribution will have a similar impact on consumer behavior and consumption as mobile voice has had.ā
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None of the companies have disclosed the purchase price. However, it is expected that the deal will close during the second half of 2013.
