(ats) Ericsson’s offer for the listed group has received “unanimous approval from Vonage’s board of directors” and is part of its “strategy of expanding wireless communications and broadening its global offer, “the group wrote in a statement.

The acquisition is the largest in Ericsson’s recent history and expands its activity beyond its historic market for telecom network equipment, particularly in 5G, where it is battling with Chinese leader Huawei and Finnish Nokia.

At $ 21 per share, the offer to shareholders corresponds to a premium of more than 28% over Vonage’s last closing price on the Nasdaq.

Founded in 2001, Vonage has long offered its VoIP telephony services and in recent years has developed a communications platform (messaging, voice, video) using the cloud.

With 120,000 customers and developer access to its API, the API represents 80% of its annual revenue, which currently stands at $ 1.4 billion.

Leave a Reply

Your email address will not be published.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

This site uses Akismet to reduce spam. Learn how your comment data is processed.