AZB & Partners Advised in Acquisition of Ericsson’s Internet of Things and Connected Vehicle Cloud business by Aeris

AZB & Partners Advised in Acquisition of Ericsson’s Internet of Things and Connected Vehicle Cloud business by Aeris

AZB & Partners advised the Swedish telecom gear maker Ericsson AB in transferring of its Internet of Things (IoT Accelerator) and the Connected Vehicle Cloud (CVC) business and related assets to Aeris Communications. While Ericsson will hold an undisclosed minority stake in the new Aeris.

Ericsson is one of the world’s leading information and communication technology companies, headquartered at Stockholm, Sweden.

Aeris Communications, a leading Internet of Things (IoT) solutions provider based in San Jose, California, and Ericsson have signed an agreement for the transfer of Ericsson’s IoT Accelerator and Connected Vehicle Cloud businesses.

The transaction aims to create strong industry synergies, accelerate IoT growth and further simplify IoT for enterprises and create new opportunities for service providers

AZB & Partners assisted and advised Ericsson on all legal aspects of the transaction structuring, drafting, negotiating, and finalizing of the definitive agreement in the acquisition transaction.

The transaction was completed on 31st March, 2023.

The Merger and Acquisition practice of AZB & Partners advised Ericsson on the transaction. The Transaction team was led by Ashwath Rau (Senior Partner) and Kashish Bhatia (Senior Partner) along with support from Chitrangda Singh (Senior Associate).