Ericsson Acquires The American Vonage For 5,495 Million Euros

The Swedish telecommunications group Ericsson announced on Monday the purchase of the American Vonage, a global provider of cloud-based communications, for 6.2 billion dollars (5.495 million euros).

The operation, which is expected to be closed in the first half of 2022, aims to promote the creation of a global network and a communication platform for innovation, as well as expand the expansion strategy of the Swedish firm in the wireless companies business.

The purchase price means paying $ 21 (18.6 euros) per share, 28% more than the price at the close of the session last Friday on the New York Stock Exchange.

The cloud-based Vonage Communications platform serves more than 120,000 customers and has more than one million registered developers globally, according to a statement.

“At the core of our strategy is to build leading mobile networks through technology leadership. The Vonage purchase is the next step in that strategic priority,” said Ericsson CEO Börje Ekholm.

Ekholm noted that Vonage provides a platform to help clients monetize investments, “benefiting developers and businesses.

John Michael

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