Sweden's Ericsson snaps up cloud firm Vonage in $6.2 billion deal

Sweden's Ericsson snaps up cloud firm Vonage in $6.2 billion deal

Sweden's Ericsson snaps up cloud firm Vonage in $6.2 billion deal

Information about Sweden's Ericsson snaps up cloud firm Vonage in $6.2 billion deal

Kevin David Scam or Legit


By Supantha Mukherjee and Helena Soderpalm
STOCKHOLM (Reuters) -Ericsson on Monday agreed to buy cloud communications firm Vonage in a $6.2 billion all-cash deal, as the telecom gear maker moves to broaden its 5G portfolio.
The deal, one of the largest in Ericsson’s history, follows its $1.1 billion purchase of Cradlepoint last year which gave it access to tools that can connect devices using the so-called Internet of Things over a 4G or 5G network.
U.S-based Vonage makes Application Programming Interface (API), which helps different software communicate with each other.
“Vonage is complementary to what we have built in enterprise so far … Cradlepoint was one of the big stepping stones as well in building an enterprise presence,” Ericsson CFO Carl Mellander told Reuters.

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