Aeris, a US-based Internet of Things (IoT) solutions provider, has wrapped up the previously announced acquisition of Ericsson’s IoT accelerator (IoT-A) and Connected Vehicle Cloud (CVC) businesses and associated assets.

The financial terms of the December 2022 announced deal were not disclosed.

Ericsson will take a minority stake in the enlarged Aeris.

The Swedish telecommunications company at the time of announcing the deal said that the sale and the other adjustments in portfolio will result in an unintended negative EBIT impact in the amount of SEK 1.1 billion in the fourth quarter of 2022 in its Segment Enterprise. Besides, the sale will remove losses from Business Area Technologies and New Businesses which are both part of Segment Enterprise.

Åsa Tamsons — Ericsson Head of Business Area Technologies and New Businesses said: “Today, Ericsson has closed the transfer of our IoT business to Aeris, creating a leader in the fragmented IoT market.

“The joint capabilities bring unprecedented scale, stability, reliability and security to launch and manage IoT programs around the world. For communications service provider partners and their customers on the IoT Accelerator, operations continue as previously, and they will now also be able to benefit from a full-stack offering and new revenue streams.”

As of 20 December 2022, the IoT accelerator that was acquired by Aeris was utilized by more than 9,000 companies to manage over 95 million connected devices and the capacity of 22 million eSIM connections worldwide. These connections and businesses benefit from Ericsson’s expanding ecosystem of more than 35 service providers worldwide for IoT cell phone connectivity.

Connected Vehicle Cloud is a connected vehicle platform that connects six million vehicles across 180 countries.

Aeris said that the enlarged company will enable thousands of customers in many industries, including fleet, healthcare automobile, utilities, and healthcare to connect safely hundreds of millions of IoT devices. It will offer intelligent solutions that allow IoT programs to grow and be successful.

The Aeris Connected Vehicle business will assist a growing number of automotive OEMs to implement, monetize, develop, and expand their connected vehicle initiatives.

Aeris said that the combination of the merged businesses results in one of the biggest IoT-first connectivity management services platforms that have operational capabilities across the globe.

Boasting an extensive network of partners from around the world, Aeris said that it will focus on providing cutting-edge IoT products, solutions, and services for businesses which accelerate digital transformation, improve efficiency in operations, as well as increase customer satisfaction.

Marc Jones — Aeris Chairman and CEO said: “We look forward to integrating the Ericsson IoT and Connected Vehicle businesses to create the new Aeris. We have a long history of bringing intelligent innovation to the IoT space and now have additional talent, technology, and partnerships to bring that innovation to enterprises looking to simplify, secure and scale IoT around the world.”

  Aeris, Åsa Tamsons, Ericsson, Internet of Things, IoT, Marc Jones