Ericsson has bagged regulatory approval for its $6.2bn acquisition of Vonage.

The Swedish telecoms giant now exists to complete the deal before the end of this month.

The final clearance came from Committee on Foreign Investments in the United States after Ericcson revealed it had achieved all other approval at the end of last month.

In November last year, Ericsson first announced the takeover in a move that would see its 4G and 5G technology combined with Vonage’s CPaaS credentials.

The vendor released its quarterly numbers yesterday, before the acquisition’s completion.

Borje Ekholm, Chief Executive Officer at Vonage, said: “The intended acquisition of Vonage is an important building block to execute on the global network platform, and we are working to secure approval and close the transaction before the end of July.

“Our strategy builds on technology leadership, and we continue to invest in R&D so we can launch new and innovative products in the future as well.

“Of course, this includes investments both in our mobile networks business as well as in enterprise, and we will spare no resources in strengthening our position in those areas.”

In its second quarter, Ericsson saw organic sales rise five percent to SEK 26.3 billion ($2.5bn) year on year.

Vonage has continued R&D since the acquisition was announced and in March revealed upgrades for its UCaaS and CCaaS video platforms.

 

 



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