The US Review Delays Ericsson's Acquisition of Vonage

The US Review Delays Ericsson's Acquisition of Vonage
Fotolia

The completion of Ericsson's acquisition of US cloud communications company Vonage was planned to end next month. The Swedish-based vendor said that the attempts to get the acquisition through the Committee on Foreign Investment in the United States are still in the work.

In a stock market update on the proposed transaction, Ericsson said it had received all necessary approvals for the deal except for the US foreign investment authority. This includes other bodies in the US. On announcing the $6.2 billion agreement in late 2021, Ericsson cited an expected closing date of H1 2022.

The company reiterated both Ericsson and Vonage were fully committed to the deal, which would be Ericsson’s largest acquisition to date. It added that they will continue to work closely to secure the outstanding approval and was aiming to conclude the process as expeditiously as possible.