Swedish firm to Acquire Acton-based Azuki
Swedish firm Ericsson has agreed to acquire Acton-based Azuki Systems Inc., a video software maker, according to a statement issued Thursday.
The acquisition will extend Stockholm-based Ericsson’s television and media portfolio, which includes the recent addition of Microsoft’s Mediaroom. The global communications technology company said the deal will accelerate the availability of “new and compelling viewing experiences across a variety of devices and screens.”
The company will also gain additional functionality related Azuki’s TV Anywhere services, as well as Azuki’s team of highly-skilled software engineers, according to Ericsson.
“Azuki adds key technologies and capabilities to extend our market leadership position,” said Per Borgklint, senior vice president and head of business unit support solutions at Ericsson.
The acquisition is expected to be complete by the end of February, according to Ericcson. Terms of the deal were not disclosed.
Founded in 2008, Azuki employs 49. The company has raised $28.1 million in venture funding, according to crunchbase.com.
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