Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Ericsson to buy cloud firm Vonage for $6.2 billion

by
November 22, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Sam Altman didn’t take any equity in OpenAI, report says

‘It was agony’: Why SVB’s collapse is especially hard as a Black founder, says CEO

Visitors pass through the entrance to the Ericsson AB pavilion at the Mobile World Congress in Barcelona, Spain, on Tuesday, Feb. 26, 2013.

Simon Dawson | Bloomberg via Getty Images

Mobile telecoms equipment maker Ericsson said on Monday it had agreed to buy cloud communications firm Vonage for $6.2 billion.

The deal was the Swedish firm’s biggest in years and follows its acquisition of U.S.-based wireless networking company Cradlepoint for $1.1 billion in 2020.

“The merger agreement was approved unanimously by the Board of Vonage,” Ericsson said in a statement.

“The transaction builds upon Ericsson’s stated intent to expand globally in wireless enterprise, offering existing customers an increased share of a market valued at $700 billion by 2030.”

Vonage had sales of $1.4 billion in the 12-month period to Sept. 30 2021, with a margin on adjusted earnings before interest, tax and depreciation (EBITDA) of 14% and free cash flow of $109 million.

The acquisition marks a new phase after a period since Borje Ekholm took over as CEO in 2017.

He has focused on restructuring and refocusing the business after Ericsson branched out into multi-media in the early part of the 2000s.

It struggled to fit its purchases into its operations, weighing on margins and profits.

The cloud-based Vonage Communications Platform serves more than 120,000 customers and more than one million registered developers globally.

Ericsson said it expected the deal to boost earnings per share – excluding non-cash amortization impacts – and free cash flow from 2024 onwards.

The deal is expected to close in the first half of 2022, subject to Vonage shareholder approval, regulatory approvals, and other conditions.

ShareTweetPin

Related Posts

Sam Altman didn’t take any equity in OpenAI, report says

by
March 24, 2023
0

Sam Altman, president of Y Combinator, pauses during the New Work Summit in Half Moon Bay, California, U.S., on Monday,...

‘It was agony’: Why SVB’s collapse is especially hard as a Black founder, says CEO

by
March 24, 2023
0

Isa Watson, founder of voice-only social messaging app Squad, was on a plane when she got the news: Silicon Valley...

Europe’s leaders battle banking crisis as market rout hangs over Brussels summit

by
March 24, 2023
0

In this article .BBKADBCSG.N-CH Follow your favorite stocksCREATE FREE ACCOUNT Germany's Chancellor Olaf Scholz said Deutsche Bank is profitable after...

BofA’s Hartnett sees commercial real estate as the ‘next shoe to drop’

by
March 24, 2023
0

Commercial real estate could be the next danger spot in the wobbly U.S. financial sector, according to Bank of America....

TikTok wants to distance itself from China — but Beijing is getting involved

by
March 24, 2023
0

China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. Florence Lo...

Next Post

Falling real yields are a key to the stock-market rally: What investors need to know

Evergrande Shares Worth $1 Billion Appear in Clearing System

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net