Telas and others are buying up US technology, selling it at huge discounts and using it to undercut competitors.
The telco group, which has stakes in Google, Amazon, Facebook and eBay, has been aggressively acquiring US technology and services companies for decades, taking on companies like Dell and HP in the process.
Its strategy has not changed much in the past decade.
Its new telco-backed company TeliaSonera, which aims to be the cheapest and most reliable internet service provider in the US, has signed deals with some of the biggest names in the technology industry, including Cisco Systems and Oracle, for $300m.
Telas says its acquisition of Motorola Mobility has given it access to a huge pool of technology and software, but that it has also bought back the handset company’s intellectual property rights.
The deal includes a 20% stake in the smartphone maker.
Its $100m investment in Cisco Systems last year has also helped Telas, which is already the largest telco in the country, get access to the software used in the world’s most popular internet routers, as well as in many of the world-class servers.
In recent years, it has bought up more than 70% of Cisco, according to analysts at Morgan Stanley.
It has also snapped up Microsoft Corp’s cloud services business, and has invested $1.2bn in a deal with Amazon.
It has also been trying to buy the wireless maker.
As a result, the telco’s stock has fallen more than 15% since last year, from a high of $13 in October.
The stakes have increased further as it has tried to expand its reach into other areas, including online gaming.
In a filing with the US Securities and Exchange Commission in February, Telas said it was looking at the purchase of the gaming platform Twitch.tv for $1bn.
It is also buying stakes in Amazon, Google and Facebook, which it is trying to acquire.
The latest deal, announced last week, comes as Telas is also looking to buy rival rival internet service company Nextel.
In its filing with regulators, Telos said Nextel is a strategic partner of the company and that it will be the first company to offer a comprehensive, affordable internet service.
Nextel had already started buying shares in Telas.