Home computing services provider Novatium Solutions announced on Monday that Ericsson has picked up a minority stake in the company. The investment will help Novatium to extend its reach to foreign markets.

“I’m not able to disclose the financial details of the deal right now. However, this is the second round of funding for the company and Ericsson’s investment will help us to reach out to both developing and developed nations,” said Alok Singh, chief executive officer of Novatium.

Ericsson gets two board slots and the final decisions are expected in a month. Novatium is privately held and US-based New Enterprise Associates (NEA) was the company’s sole investor so far. The latter will continue as strategic stakeholder. Ben Mathias and Krishna “Kittu” Kolluri represent NEA in the Novatium board.

The company pioneered the concept of pay-per-use home computing service in 2007 and commercially launched the Navigator in 2009. With a broadband connection and a processing device called Nova Navigator, users can access operating systems and work on applications such as MS Office on a monthly rental basis. Consumers need to own only a monitor and a broadband connection for home computing. The access device comes with a keyboard and a mouse.

Novatium has tie ups with BSNL, MTNL, Airtel and Tala Teleservices and the services are available across more than 12 circles. The company offers zero-maintenance computing services at monthly charges starting at Rs 175 apart from the broadband cost. The company has sold over 40,000 devices in India so far, Singh said.