Sunday, September 25, 2022
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Ericsson Enters Into an Agreement to Acquire Vonage for $6.2-Billion

The company ‘Ericsson’ has now entered into an agreement for the purpose of acquiring the Vonage Holdings Corp. for around 6.2 million dollar, and this agreement for the merger had been accepted unanimously by the Board of Vonage. This new acquisition has been building upon the stated intent of Ericsson for expanding across the globe in the wireless enterprise, along with offering an increase share of the market to the existing customers that is valued at 700 billion dollars by 2030.

Borje Ekholm, CEO and President of Ericsson said, the core of their strategy has been to build the leading mobile networks through the leadership in the technology, and this is also going to provide the foundation for the purpose of building an enterprise business, and this acquisition of Vonage by Ericsson has been the next step in the process of delivering on the strategic priorities.

Borje Ekhom said, the company ‘Vonage’ has been giving them a platform for helping their customers along with monetizing the investment in the network, and also benefitting the businesses and developers. He also said that, the network APIs had been an established market for the purpose of video, voice and messaging but with a significant potential for capitalising on the new capabilities of 4G and 5G.

Rory Read, CEO of Vonage said, both Vonage and Ericsson are having a shared ambition for accelerating their strategy of long-term growth, and the merger of two companies will be offering the exciting opportunities for the partners, customers, developers and also a team of the members for capturing the upcoming wave.