Swedish telecoms giant Ericsson is spending nearly $500 million on two new acquisitions to boost its US presence and take its long awaited plunge into the Internet based fixed line network market.
The company has agreed to buy Internet router supplier, Torrent Networking Technologies for $450 million in cash as part of its strategy to become an Internet carrier.
Ericsson has paid a further $46 million for Touchwave, a Palo Alto, California based supplier of network phone systems for the small and medium sized business market.
Sven-Christer Nilsson, Ericsson's chief executive, said: "The acquisitions move Ericsson squarely into the IP playing field and will have a substantial impact on our ability to provide a complete data networking solution. This is in line with our strategy to offer fully integrated capabilities for converged wireless and wireline voice and data networks."
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