Vonage is one of the top providers that Rich Technology Group has been recommending to different businesses for a long time.
Vonage is one of the top providers that Rich Technology Group has been recommending to different businesses for a long time. In this article, We will highlight the Topic: Ericsson Acquires Vonage for $6.2 Billion. Rich Technology Group has even won the Vonage President’s Club award for 2020.Overall, it is a great cloud-based company because they have been providing a really good and user-friendly platform.
According to various renowned sources like Forbes, CNN, etc., it has been confirmed now that Ericsson is acquiring Vonage for $6.2 billion. Read that again: Ericsson Acquires Vonage for $6.2 Billion. Yes!
This comes as big news to us that wireless giant Ericsson is looking to purchase them as the deal has been formalized.
Different articles mention that this deal is Ericsson’s biggest deal in years following its acquisitions of US-based network company Cradle Point for $1.1 billion in 2020. By the Board of Vonage, the merger agreement was approved unanimously. Vonage had sales of $1.4 billion in 12 months to September 30th, 2021 with a margin on adjusted earnings. Thus, Ericsson mentioned in a statement that the transactions build upon Ericsson’s stated intent to expand globally in the wireless enterprise offering existing customers; and an increased share of market value at $700 billion by 2030.
Mobile Phone Maker Ericsson has announced plans to aquire Vonage Cloud Communications for $6.2 billion in early 2022. We are a big advocate for Vonage VOIP phone systems and solutions so... here is Prince Rich and Sunita's take on this news!
Rich Technology Group's News about Ericson:
Rich Technology Group received a lot of emails and calls regarding the details of the future and upcoming news. Although Ericsson historically has been working as a cell phone company; this transaction builds upon Ericsson is expected to expand globally in cloud-based solutions. Ericsson’s expansion with Vonage could offer wireless solutions to Ericsson’s existing customers and wireless solutions to Vonage. Thus, it is going to be a two-way beneficial deal.
What could happen if you are an existing Vonage Customer?
Rich Technology Group communicated with the management at Vonage to find out about the future of existing Vonage Solution users. Representatives explained it in a way; nothing would essentially change on the Vonage cloud communication side. Thus, it sounds like the whole Vonage Ericsson endeavour is a separate division; or a separate undertaking than the regular old day-to-day Vonage. From what we are hearing, it does not sound like anything is going to change on the cloud communications side. So ultimately, the Vonage customers will have their smooth ongoing business communications going on.
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