Ericson to Buy Cloud Firm Vonage for $6.2 Billion

Swedish multinational network and telecommunication company has agreed to buy cloud communications firm Vonage for $6.2 billion. The deal made by the company is an all-cash deal. The deal has become one of the largest deals in the history of Ericsson.

Vonage operates across different sectors such as healthcare, finance education, and transportation. The company has recorded sales of $1.4 billion in a period of 12 months until September 30, 2021. It also has over 120,000 customers. The deal can close in the first half of 2022.