STOCKHOLM (AP) — Swedish wireless technology company LM Ericsson AB says it has signed a deal to buy the privately owned Canadian Wi-Fi company BelAir Networks.
Ericsson said Tuesday it expects to close the acquisition during the first half of 2012, subject to customary conditions. The value of the deal wasn't disclosed. BelAir Networks is based in Ottawa and has around 120 employees, who will now join Ericsson.
The Swedish company said the acquisition will give it a strong Wi-Fi portfolio, technological expertise, intellectual property rights and established customer contracts and relationships. It said the combination of its mobile infrastructure technology and BelAir Networks' Wi-Fi equipment will "accelerate the integration of Wi-Fi and cellular technologies."
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