UK markets closed
  • FTSE 100

    7,439.74
    -8.32 (-0.11%)
     
  • FTSE 250

    20,051.48
    -104.32 (-0.52%)
     
  • AIM

    920.38
    -2.34 (-0.25%)
     
  • GBP/EUR

    1.1854
    -0.0008 (-0.06%)
     
  • GBP/USD

    1.2066
    -0.0092 (-0.76%)
     
  • BTC-GBP

    19,311.74
    +0.29 (+0.00%)
     
  • CMC Crypto 200

    533.20
    -2.02 (-0.38%)
     
  • S&P 500

    4,145.19
    -6.75 (-0.16%)
     
  • DOW

    32,803.47
    +76.67 (+0.23%)
     
  • CRUDE OIL

    88.53
    -0.48 (-0.54%)
     
  • GOLD FUTURES

    1,792.40
    +1.20 (+0.07%)
     
  • NIKKEI 225

    28,175.87
    +243.67 (+0.87%)
     
  • HANG SENG

    20,201.94
    +27.94 (+0.14%)
     
  • DAX

    13,573.93
    -88.77 (-0.65%)
     
  • CAC 40

    6,472.35
    -41.04 (-0.63%)
     

Ericsson closes $6.2 billion Vonage deal after short delay

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

STOCKHOLM (Reuters) - Ericsson on Thursday closed its $6.2 billion Vonage acquisition, nearly a month after it was delayed due to a pending investigation by a U.S. national security panel.

The Swedish telecom gear maker is looking to tap Vonage's communication platform to help developers create applications using network information, user authentication, bandwidth, responsiveness, energy efficiency, security and reliability.

Vonage will operate as an independent unit of Ericsson and its CEO Rory Read will join the Swedish's company's executive team.

First announced in November, Vonage was the largest deal in Ericsson's history, and a follow-up to its $1.1 billion Cradlepoint buy as the company is looking to boost its presence in wireless enterprise networks and communication platforms.

Ericsson plans to invest more in these two businesses and will also look for acquisitions, CTO Erik Ekudden said in a Reuters interview.

Vonage deal will add to earnings from 2024.

(Reporting by Supantha Mukherjee in Stockholm; editing by Niklas Pollard)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting