Last month, Swedish telecom gear maker Ericsson announced that it had entered into an agreement to acquire 100% of the shares in the Ottawa's BelAir Networks to boost its mobile broadband offering. While the terms of the transaction have not been disclosed, it is believed to be the largest Canadian telecom transaction in years. It officially closed today.
BelAir Networks produces indoor and outdoor wifi systems for telecoms operators that allow people to surf the Internet without a physical coupling to a network. Through this transaction, Ericsson acquired a strong carrier grade wifi portfolio, technological expertise, IPR, and established customer contracts and relationships.
The combination of Ericsson's mobile infrastructure technology leadership and BelAir Networks' leading position in carrier grade wifi equipment will accelerate the integration of wifi and cellular technologies.
Established in 2002, BelAir Networks is based in Ottawa and has approximately 120 employees. BelAir Networks' employees will join Ericsson's global organization.