All 52 employees of Jtec will be offered employment in what will become a new Ericsson Australia subsidiary with headquarters in Sydney.
Jtec's technology will provide Ericsson with a full, in-house ATM product portfolio, enabling Ericsson to offer operators a more cost effective end-to-end solution, Ericsson said in a statement.
"The acquisition of Jtec and its intellectual property by Ericsson globally, sends a clear message to the world that Australians are undoubtedly capable of providing world class solutions within the IT space," Ericsson Australia MD, Karl Sundstrom, said.
Ericsson's GM of ATM Multiservice Networks Product Unit, Ragnar Erkander, said: "Ericsson conducted an extensive review of the global market place for these products before coming to the conclusion that the Australian Jtec products, with their award winning technology and economic fit, were the clear choice for Ericsson."
"This agreement will provide Ericsson with a distinct competitive advantage in the marketplace for next generation solutions," he concluded.
The last Australian comms hardware company bites the big one. R.I.P. Jtec.
From the ashes..... A stronger Pansaseer.