Ericsson's 6bn Vonage deal delayed by US probe

Date:
Wed, 29 Jun 2022 16:10:34 +0000

Description:
Committee on Foreign Investment in the United States takes a look at the takeover.

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Ericssons proposed 6.2 billion acquisition of cloud -based communication specialist Vonage has been delayed by an investigation by the Committee on Foreign Investment in the United States.

The Swedish telecoms equipment giant had hoped to complete the deal by the first half of 2022, but now expects the transaction to go through next month. It added that it is working closely with authorities and that it has no
reason to believe there will be any complications.

The merger has cleared all other requisite foreign and US regulatory approval requirements, and the parties are working to conclude the regulatory process as expeditiously as possible, it said.

Ericsson and Vonage remain fully committed to this transaction and are
working towards closing before end of July, 2022. Wireless power

Ericsson hopes the takeover will allow it to bring more of its 5G technology and expertise into the enterprise market and expand its overall portfolio for businesses. Read more

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Link to news story: https://www.techradar.com/news/ericssons-euro6bn-vonage-deal-delayed-by-us-pro be/


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