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Ericsson completes Envivio takeover

Ericsson has completed its takeover of software-based video encoding firm, Envivio.

Ericsson said the transaction was completed through a merger of its indirect wholly-owned subsidiary, Cindy Acquisition Corporation, with and into Envivio.

The US$125 million deal was first agreed in September. Envivio is now a wholly-owned subsidiary of Ericsson.