Ericsson agreed to acquire Boston-based MetraTech Corp., a provider of metadata-based billing, commerce and settlement solutions. Financial terms were not disclosed.
MetraTech, which was founded in 1998, offers a flexible billing platform that supports new revenue models and global commerce that are being driven by IoT and XaaS. MetraTech’s metadata-driven MetraNet billing and settlement platform can support new NFV services and business models, as well as services in legacy silos. The company has 140 employees and contractors.
Ericsson said the acquisition extends its expertise in billing and expands its geographic presence in the US.
Per Borgklint, Senior Vice President and Head of Business Unit Support Solutions, Ericsson says: “For a range of industries, thriving in the Networked Society means having the ability to quickly support new revenue models and shift strategies as fast as customer and partner needs evolve. MetraTech’s metadata-based billing solutions strengthen our extensive OSS and BSS portfolio and billing capabilities across a range of sectors, helping us extend our leadership as we support a world with increasingly more connections.”
- Investors in MetraTech included Accel Partners and Vesbridge Partners.