Ericsson to Acquire Envivio

Ericsson has entered into an agreement to acquire Envivio, in a deal valued at $125 million. Ericsson said that the acquisition will strengthen its video compression position, combining its broadcast and contribution expertise with Envivio’s leadership in multiscreen cable and telecom. This combination will enable consumers to experience TV on any device. Envivio’s tier one customers include Comcast, Cox Communications, Liberty Global, Sky, Telstra and Time Warner Cable.

Under the terms of the agreement, Ericsson will purchase all of Envivio’s outstanding shares, with a merger following the completion of the tender offer. The acquisition is expected to close in the fourth quarter of this year, subject to customary closing conditions.