Swedish telecom giant Ericsson announced it is buying Canadian WiFi technology firm BelAir Networks.

Ericsson will purchase 100 percent of the shares in the privately-held, Ottawa-based firm which employs 120.

Bernard Herscovich, CEO of BelAir Networks, said in a statement: "By focusing on the needs of leading service providers, BelAir Networks has achieved industry leadership with our unique portfolio of carrier-grade WiFi. This transaction is a natural step in the continued development of BelAir Networks and we believe that Ericsson presents a strategic and cultural fit."

Ericsson, which launched its own carrier-grade WiFi solution last September, reportedly paid more than $100 million for the tech startup, according to the Ottawa Citizen.

The acquisition will help Ericsson meet the growing demand for WiFi products from major wireless carriers such as AT&T, which continue to benefit from massive adoption of mobile Internet-connected devices especially smartphones and tablets.