|
|
|
Ericsson to acquire global Cloud firm Vonage for $6.2 bn
|
|
|
|
Top Stories |
|
|
|
|
IANS | 24 Nov, 2021
Swedish telecommunications giant Ericsson on Monday
announced to acquire global Cloud-based communications provider Vonage
for $6.2 billion, as the company aims to expand its presence in wireless
enterprise and broaden its global offerings.
The Cloud-based
Vonage Communications Platform (VCP) -- accounting for approximately 80
per cent of Vonage's current revenues -- serves over 1,20,000 customers
and more than one million registered developers globally.
The merger agreement is expected to complete in the first half of 2022, the company said in a statement.
"Vonage
gives us a platform to help our customers monetise the investments in
the network, benefitting developers and businesses. Imagine putting the
power and capabilities of 5G, the biggest global innovation platform, at
the fingertips of developers. Then back it with Vonage's advanced
capabilities, in a world of 8 billion connected devices," said Borje
Ekholm, President and CEO of Ericsson.
With the acquisition,
Vonage's strong developer ecosystem will get access to 4G and 5G network
APIs, exposed in a simple and globally unified way, allowing them to
develop new innovative global offerings.
"Businesses will benefit
from the 5G performance, impacting operational performance, and share
in new value coming from applications on top of the network," Ekholm
added.
The transaction builds upon Ericsson's intent to expand
globally in wireless enterprise, offering existing customers an
increased share of a market valued at $700 billion by 2030.
"The
combination of our two companies offers exciting opportunities for
customers, partners, developers and team members to capture this next
wave," said Rory Read, CEO of Vonage.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|