Ericsson buys Microsoft’s TV arm

Telecom equipment maker Ericsson yesterday said it had struck a deal to buy Microsoft’s Mediaroom IPTV business, which makes software used by phone companies to deliver TV over the internet. Ericsson said it expected to close the deal for the business during the second half of 2013. It did not disclose a price but said it was between the $99m it paid for Optimi and $234m it spent on LG Nortel.