Credit Suisse has agreed to acquire Morgan Stanley’s wealth management unit in Europe, the Middle East and Africa. No financial terms were disclosed. The business manages around $13 billion in assets. www.credit-suisse.com

Microsoft
(Nasdaq: MSFT) is in talks to sell its IP television unit to Ericsson, according to Bloomberg. www.microsoft.com

Serena & Lily, a Sausalito, Calif.-based lifestyle brand for the home, has raised $10 million in new funding from ORIX Ventures. www.serenaandlily.com

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