Ericsson is paying $6.2bn in cash for cloud-based services group Vonage as the Swedish telecoms equipment maker aims to increase its offering for companies and developers.
The acquisition, Ericsson’s biggest ever, comes after years of restructuring at the Swedish group and amid pressure over its business in China as it pays the price for Stockholm’s crackdown on rival Huawei.
Vonage, a pioneer of internet telephony in the US, had a market value of about $3.6bn in September before activist investor Jana Partners started agitating for it to sell itself or break up.
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