Ericsson has acquired a majority stake in Apcera. In addition, the company has made a ‘significant commitment’ to fund future Apcera operations and fuel growth and sales channel expansion. The all-cash deal is expected to close in Q4 2014. Financial terms of the transaction were not disclosed.
Apcera will retain its name and operate as a standalone company. Founder and CEO Derek Collison will continue as CEO. Apcera says it plans to immediately accelerate hiring as it prepares for expected growth.
Based in San Francisco, Calif., Apcera was founded in 2012, with investment from True Ventures, Kleiner Perkins Caufield & Byers, Rakuten, Andreessen Horowitz and Data Collective.
[Image courtesy: Apcera]