Sweden's Ericsson is preparing to take over Massachusetts-based Ambient Corp., which struggled to sell its "smart grid" technology to power companies, after a bankruptcy judge approved Ericsson's $7.5 million purchase offer last week, the Wall Street Journal reported today. Bankruptcy Judge Kevin Gross approved the offer, which came from an Ericsson affiliate, after looking it over at a court hearing on Friday. Ambient filed for bankruptcy on July 28, saying that the company has had a hard time finding buyers for its devices that plug into a utility's power grid to help the utility communicate with electricity users. The largest customer for its data-collection devices has been Duke Energy Corp.
