September 25, 2012 / 9:23 PM / in 5 years

Ericsson buys Canada-based ConceptWave Software

(Reuters) - Ericsson, the world’s leading mobile telecoms equipment maker, bought Canadian telecommunications software provider ConceptWave Software Inc.

Ericsson's Silicon Valley campus is seen in Santa Clara, California, August 11, 2009. REUTERS/Robert Galbraith

Toronto-based ConceptWave will become a fully owned unit of Ericsson and its 170 employees will be a part of Ericsson.

Financial terms of the deal were not disclosed.

Shares of Ericsson closed at $9.21 on the Nasdaq on Tuesday.

Reporting by Chandni Doulatramani in Bangalore; Editing by Don Sebastian

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