Swedish telecom giant Ericsson has recently announced their acquisition of Israeli cloud storage company Fabrix Systems. The deal is said to close in Q4 and cost Ericsson $95 Million. This acquisition will enable Ericsson to further establish its position as a leader within TV and Media platforms by including network delivery for video applications, as well as TV and media storage. Fabrix Systems will be merged into Ericsson’s main business unit support solutions.
Per Borgklint, the senior vice president at Ericsson said, “We are investing significantly across our TV platform and video-network areas to extend our market leadership position. Our Media Vision 2020 shows that traditional TV is shifting rapidly towards TV Anywhere and Ericsson’s leadership in broadcast, video and networks places us in a unique position to enable the most demanding customers to define and deliver the future of TV. Fabrix Systems further positions Ericsson to help customers deliver on the Networked Society’s global demand for personalized video content on any screen, at any time.”
Though Ericsson is no stranger to Israel with their Israeli branch having opened back in 1997, this is their first foray into actively investing in the Israeli tech market.
Fabrix Systems was founded in 2006 and currently has 93 employees based out of their Ra’anana headquarters, with an additional 10 based out of the US.
Ram Ben-Yakir, CEO of Fabrix Systems said, “TV service providers, particularly those with IP delivery networks, are accelerating their network architecture investments in video optimization to deliver on the promise of TV Anywhere. Through worldwide deployments of our cloud storage and computing capabilities, we have enabled leading TV service providers to provide consumer services such as DVR through cloud-based deployments, lowering costs and enabling a more unified consumer experience in content on-demand.”