Ericsson to buy cloud firm Vonage for $6.2 bln

STOCKHOLM, Nov 22 (Reuters) – Mobile telecoms equipment maker Ericsson said on Monday it had agreed to buy cloud communications firm Vonage for $6.2 billion. “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.

Link: Ericsson to buy cloud firm Vonage for $6.2 bln
via http://www.reuters.com

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