Ericsson (NASDAQ:ERIC) has entered into an agreement to acquire Fabrix Systems, a provider of cloud storage, computing and network delivery for video applications, for $95 million.
The acquisition is intended to enable new services and migration to cloud DVR deployments in all TV platforms including Ericsson MediaFirst and Ericsson Mediaroom. Fabrix Systems will be incorporated into Ericsson's Business Unit Support Solutions.
The deal is expected to close in the fourth quarter, 2014, subject to customary closing conditions.
