AGL 38.00 Increased By ▲ 0.43 (1.14%)
AIRLINK 132.17 Decreased By ▼ -0.33 (-0.25%)
BOP 5.60 Decreased By ▼ -0.04 (-0.71%)
CNERGY 3.80 Increased By ▲ 0.03 (0.8%)
DCL 8.80 Decreased By ▼ -0.07 (-0.79%)
DFML 40.97 Decreased By ▼ -0.03 (-0.07%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.25 Increased By ▲ 0.17 (0.48%)
FFBL 66.41 Decreased By ▼ -0.09 (-0.14%)
FFL 10.39 Increased By ▲ 0.24 (2.36%)
HUBC 109.15 Increased By ▲ 2.75 (2.58%)
HUMNL 14.01 Increased By ▲ 0.61 (4.55%)
KEL 4.87 Increased By ▲ 0.01 (0.21%)
KOSM 6.81 Decreased By ▼ -0.04 (-0.58%)
MLCF 41.75 Decreased By ▼ -0.05 (-0.12%)
NBP 58.65 Increased By ▲ 0.07 (0.12%)
OGDC 181.03 Decreased By ▼ -0.22 (-0.12%)
PAEL 25.65 Decreased By ▼ -0.05 (-0.19%)
PIBTL 5.85 Increased By ▲ 0.02 (0.34%)
PPL 147.39 Decreased By ▼ -1.01 (-0.68%)
PRL 23.29 Increased By ▲ 0.07 (0.3%)
PTC 15.46 Increased By ▲ 0.22 (1.44%)
SEARL 68.15 Decreased By ▼ -0.64 (-0.93%)
TELE 7.25 Increased By ▲ 0.01 (0.14%)
TOMCL 35.85 Decreased By ▼ -0.15 (-0.42%)
TPLP 7.52 Increased By ▲ 0.12 (1.62%)
TREET 14.22 Decreased By ▼ -0.02 (-0.14%)
TRG 50.54 Decreased By ▼ -0.31 (-0.61%)
UNITY 26.60 Increased By ▲ 0.20 (0.76%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,775 Increased By 7.5 (0.08%)
BR30 29,551 Increased By 151.2 (0.51%)
KSE100 92,052 Increased By 113.5 (0.12%)
KSE30 28,739 Decreased By -4.5 (-0.02%)

STOCKHOLM: Ericsson on Thursday closed its $6.2 billion Vonage acquisition, nearly a month after it was delayed due to a pending investigation by a U.S. national security panel.

The Swedish telecom gear maker is looking to tap Vonage's communication platform to help developers create applications using network information, user authentication, bandwidth, responsiveness, energy efficiency, security and reliability.

Vonage will operate as an independent unit of Ericsson and its CEO Rory Read will join the Swedish's company's executive team.

Ericsson’s quarterly core profit misses estimates on rising costs

First announced in November, Vonage was the largest deal in Ericsson's history, and a follow-up to its $1.1 billion Cradlepoint buy as the company is looking to boost its presence in wireless enterprise networks and communication platforms.

Ericsson plans to invest more in these two businesses and will also look for acquisitions, CTO Erik Ekudden said in a Reuters interview.

Vonage deal will add to earnings from 2024.

Comments

Comments are closed.