September 14, 2014 | According to a “Globes” report, the Swedish technology giant Ericsson will acquire the Israeli cloud storage company Fabrix Systems for $95 million. Ericsson stated that it will acquire the company in order to secure its position in the network delivery for video applications, media storage and TV. Ericsson has two products, Ericsson MediaFirst and Ericsson Mediaroom, that are set to benefit from the sale, allowing DVR to be moved to cloud storage and delivery of all kinds of video to the TV Anywhere devices. Fabrix was founded in 2006 by CEO Ram Ben-Yakir and Nir Drang. The company is based in Ra’anana and has 93 employees in Israel and about 10 in the US.