- As of
July 21, 2022 , Vonage becomes wholly owned subsidiary ofEricsson - With Vonage on board,
Ericsson will create a market for easy to adopt global network Application Program Interfaces ("APIs"); this will drive the next wave of digitalization Ericsson will generate near-term synergies from bringingVonage Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) solutions to its existing customersRory Read , Vonage CEO, appointed member ofEricsson's Executive Team
By leveraging the Vonage CPaaS offering,
For communications service providers (CSPs), global network APIs - such as location and quality of service APIs - provide new opportunities to expand their profit pools to monetize 5G network capabilities. For
Accessing network capabilities in an open, intuitive, and programmable way via global APIs will enable developer communities to create applications for any device that benefits from connection to the 5G network. Developers can utilize network characteristics such as user authentication, bandwidth, responsiveness, energy efficiency, security, identification and reliability - or network information such as device information or predictive coverage.
These new and innovative consumer and enterprise applications will further drive the rollout of 5G and network Capex.
To accelerate growth in Vonage's UCaaS and CCaaS solutions,
"By linking the network world with the global developer community, we're creating a paradigm shift that will put the network at the center, allowing the CSPs a new monetization opportunity supporting increasing investments in high-performance networks."
"4G was the platform that allowed the consumer to digitalize. It opened new business models and created some of the fastest-growing companies in history. With 5G, we have an innovation platform, unlike anything we've seen before, offering almost limitless opportunities to develop super-fast, highly reliable, low-latency and mission-critical services. With 5G, we will see accelerated digitalization of enterprises with Vonage's UCaaS and CCaaS suite being a solid growth platform."
Vonage was recently named the leader in the Omdia Universe: Selecting a CPaaS Platform 2022 report, ranked in top positions on customer experience and solutions capability. It currently serves over 120,000 business customers, has a global community of more than one million registered developers and a highly scaled platform with a combined 25 billion messages and minutes per year. This, combined with
The acquisition will also further strengthen
He adds "The way we work, shop, learn, see a doctor, exercise and entertain is fundamentally changing. Together,
Additional information about the transaction
The transaction is expected to be accretive to
Vonage will become a separate business area within the
With the completion of the transaction, Vonage will continue to operate under its existing name and brand being part of the
As of the closing date, Vonage's financial performance will be reported in Segment Enterprise along with Business Area Enterprise Wireless Solutions and Business Area Technologies & New Businesses as of the third quarter 2022.
Vonage common stock has ceased trading and will no longer be listed on the Nasdaq Global Select Market.
The acquisition was funded with cash on hand. The USD amount has been hedged with both external transactions and internal netting of
The transaction is expected to deliver near-term revenue synergy opportunities, including CSPs selling through their own brands and cross-selling of the combined product portfolio estimated to contribute
Vonage has a strong track record of growth and margin evolution. Sales were
Vonage is currently engaged with the
NOTES TO EDITORS:
RELATED LINKS
Vonage
Ericsson Enterprise Services
Dynamic End User Boost
FOLLOW US:
Subscribe to
Subscribe to the Ericsson Blog here.
https://www.twitter.com/ericsson
https://www.facebook.com/ericsson
https://www.linkedin.com/company/ericsson
MORE INFORMATION AT:
Ericsson Newsroom
E-mail: media.relations@ericsson.com
Phone: +46 10 719 69 92
E-mail: investor.relations@ericsson.com
Phone: +46 10 719 00 00
About
About Vonage
Vonage, a global cloud communications leader, helps businesses accelerate their digital transformation. Vonage's Communications Platform is fully programmable and allows for the integration of Video, Voice, Chat, Messaging and Verification into existing products, workflows and systems. Vonage's fully programmable unified communications and contact center applications are built from the Vonage platform and enable companies to transform how they communicate and operate from the office or anywhere, providing enormous flexibility and ensuring business continuity.
Forward-looking statements
This release includes forward-looking statements, including statements reflecting management's current views relating to the growth of the market, future market conditions, future events, financial condition, and expected operational and financial performance, including, in particular the following:
- Our goals, strategies, planning assumptions and operational or financial performance expectations
- Industry trends, future characteristics and development of the markets in which we operate
- Our future liquidity, capital resources, capital expenditures, cost savings and profitability
- The expected demand for our existing and new products and services as well as plans to launch new products and services including research and development expenditures
- The ability to deliver on future plans and to realize potential for future growth
- The expected operational or financial performance of strategic cooperation activities and joint ventures
- The time until acquired entities and businesses will be integrated and accretive to income
- Technology and industry trends including the regulatory and standardization environment in which we operate, competition and our customer structure.
The words "believe," "expect," "foresee," "anticipate," "assume," "intend," "likely," "projects," "may," "could," "plan," "estimate," "forecast," "will," "should," "would," "predict," "aim," "ambition," "seek," "potential," "target," "might," "continue," or, in each case, their negative or variations, and similar words or expressions are used to identify forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
We caution investors that these statements are subject to risks and uncertainties many of which are difficult to predict and generally beyond our control that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.
Important factors that could affect whether and to what extent any of our forward-looking statements materialize include, but are not limited to, the factors described in the section "Risk Factors" in the latest interim report, and in "Risk Factors" in the Annual Report 2021.
These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this release, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulations.
https://news.cision.com/ericsson/r/ericsson-completes-acquisition-of-vonage,c3604057
https://mb.cision.com/Main/15448/3604057/1606602.pdf
(c) 2022 Cision. All rights reserved., source