TORONTO--()--ConceptWave Software Inc., a leading provider of Customer, Product, and Order Lifecycle Management solutions for the global communications service provider market, announced today that it has been acquired by Ericsson (NASDAQ: ERIC), the world's leading provider of communications technology and services, through a 100% share purchase transaction which closed today on signing.
“Our products and solutions are about maximizing telecom operators’ assets through the creation, implementation, and automation of service fulfillment processes for new and differentiated offerings. Joining Ericsson today adds great value to ConceptWave, as we become part of their global organization and leverage their industry-leading technology and services competence.“”
Zarar Rana, President and CEO of ConceptWave, says: “Our products and solutions are about maximizing telecom operators’ assets through the creation, implementation, and automation of service fulfillment processes for new and differentiated offerings. Joining Ericsson today adds great value to ConceptWave, as we become part of their global organization and leverage their industry-leading technology and services competence.“
ConceptWave, through the acquisition, will be a fully owned subsidiary to Ericsson and continue to be managed as a separate entity with its own management, reporting to Business Unit Support Solutions. Ericsson will take on all current staff of 170. ConceptWave’s product portfolio will complement and enhance Ericsson capabilities in OSS and BSS order management and product catalog offerings.
Elisabetta Romano, Head of OSS in Business Unit Support Solutions, Ericsson, says: “There is a trend towards more personalization of services where end-users want to purchase communications services meeting their specific needs. This puts high demand on telecom operators to be able to offer flexible product bundles with customized pricing packages. In this area ConceptWave’s technical solution and employees’ great know-how add considerable value to Ericsson’s portfolio.”
“By joining Ericsson, our employees will now be part of a world-class organization with offices in 180 countries and a span of product portfolios covering end-to-end telecom operations,” adds Mr. Rana. “Our technical team can now scale to utilize a diverse set of resources to further expand and integrate ConceptWave platform capabilities with other OSS/BSS applications. Our customers and partners will also enjoy expanded local presence, services and support.”
RBC Capital Markets acted as financial advisor to the shareholders of ConceptWave in connection with the transaction.
ConceptWave is a leading provider of Customer, Product, and Order Lifecycle Management solutions that enable communications service providers to rapidly introduce new market offers and to empower superior customer experience. ConceptWave’s unique offer is to provide an end-to-end catalog-driven suite of order fulfillment automation software with ConceptWave Order Care® and ConceptWave Rapid CRM™. ConceptWave’s products and solutions enable service providers to address competitive requirements and simplify the management of customers, products, and orders, for any product, on any network, in any market, using any channel. ConceptWave® and ConceptWave Order Care® are registered trademarks of ConceptWave Software Inc.
Ericsson is the world's leading provider of communications technology and services. Ericsson enables the Networked Society with efficient real-time solutions that allow us all to study, work and live our lives more freely, in sustainable societies around the world.
The offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today more than 40 percent of the world's mobile traffic goes through Ericsson networks and Ericsson supports customers' networks servicing more than 2.5 billion subscribers.
Ericsson operates in 180 countries and employs more than 100,000 people. Founded in 1876, Ericsson is headquartered in Stockholm, Sweden. In 2011 the company's net sales were SEK 226.9 billion (USD 35.0 billion). Ericsson is listed on NASDAQ OMX, Stockholm and NASDAQ, New York stock exchanges.