STOCKHOLM (dpa-AFX) - Ericsson (ERIC) announced a strategic partnership with LotusFlare, a software development company that serves the telecommunications industry and enterprises. LotusFlare, headquartered in Santa Clara, California, has 500 employees globally. Also, Ericsson has acquired a minority stake in LotusFlare. The companies have agreed not to disclose financial details of the transaction.
Sam Gadodia, CEO and Co-Founder of LotusFlare, said: 'Ericsson's investment represents a powerful validation of our product innovation and market impact. We are confident this partnership will unlock new market opportunities and accelerate the development of critical network asset monetization capabilities for CSPs globally.'
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