Ericsson Finalizes Envivio Acquisition

Ericsson finalized its purchase of software-based video encoding company Envivio, Ericsson said in a news release Tuesday. Ericsson indirect subsidiary Cindy Acquisition Corp. merged into Envivio, and Envivio became a wholly owned Ericsson subsidiary, it said. The FTC recently approved Ericsson's request for early termination of the waiting period during which the deal faced antitrust review (see 1510080016). Ericsson said it bought more than 26.3 million shares of Envivio through a tender offer of $4.10 per share, which accounted for about 93 percent of Envivio's shares.