Ericsson Inks $6.2B Vonage Buy Formed By Freshfields, Weil
By Benjamin Horney (November 22, 2021, 8:16 AM EST) -- Swedish telecommunications giant Ericsson has agreed to buy New Jersey-based internet phone company Vonage for an enterprise value of about $6.2 billion, the companies said Monday, in a transaction put together by respective legal advisers Freshfields and Weil Gotshal.
The agreement calls for Telefonaktiebolaget LM Ericsson to pick up Vonage Holdings Corp. for $21 per share, a premium of 28% over the target's closing price on Nov. 19, according to a statement. In Vonage, Ericsson acquires a company that provides cloud-based communications services to more than 120,000 customers and 1 million registered developers across the globe. The company also offers cloud-focused...
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