Ericsson acquires Italy's Pride Spa

STOCKHOLM, SWEDEN: Ericsson, the world's biggest mobile network gear maker, said on Tuesday it has acquired Italian consulting and systems integration firm Pride Spa for an undisclosed amount.

Ericsson said in a statement it had agreed to buy 100 per cent of the shares in Pride Spa, with the close of the deal expected by February 1.

"The acquisition brings 1,000 highly skilled employees to further strengthening our offering in the systems integration and consultancy field," said Ericsson Chief Financial Officer Jan Frykhammar.

Ericsson has acquired five companies in the field of systems integration and consulting in the past five years.