New Delhi: Microsoft Corp will sell its mediaroom IPTV business to Swedish telecom equipment maker Ericsson, as per a news wire.
Though the deal amount has not been made official, Ericsson said it expected to close the deal during the second half of 2013.
"This deal is within range where we previously bought a company called Optimi for $99 million and where we also bought LG Nortel for $234 million," said Ove Anebygd, Vice President and Head of TV at Ericsson. "So this is somewhere in between the two."
Ericsson said the deal would make the company, already the world's biggest mobile networks maker, the leading provider of IPTV with a 25 percent market share. Microsoft said the Mediaroom platform was offered by more than 40 operators and powered 22 million set-top boxes around the world.
With Agency Inputs
First Published: Tuesday, April 09, 2013, 09:11