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Ericsson to buy cloud firm Vonage for $6.2 billion -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Ericsson’s logo seen at the headquarters of Stockholm, Sweden. June 14, 2018. REUTERS/Olof Swahnberg/File Photograph

STOCKHOLM – Ericsson, a mobile telecoms equipment company (BS:), announced on Monday that it would buy Vonage, a cloud communications firm for $6.2billion.

Ericsson stated in a statement that the merger agreement had been approved unanimously by Vonage’s Board.

Ericsson has stated its intention to increase global wireless enterprise. The transaction will give existing customers greater access to a $700billion market, which is estimated at 730 billion in 2030.

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