Symbol not found

:VG   00:00AM GMT
0.00 (0.00%)
Other Pre-Announcement, Mergers / Acquisitions

Ericsson To Acquire Vonage For $6.2 Billion

Published: 11/22/2021 06:11 GMT
(VG) - Ericsson to Acquire Vonage for USD 6.2 Billion to Spearhead the Creation of a Global Network and Communication Platform for Open Innovation.
Closing Expected in First Half of 2022, Subject to Vonage Shareholder Approval, Regulatory Approvals, and Other Customary Conditions.
Transaction Expected to Be Accretive to Ericsson's EPS (excluding Non-cash Amortization Impacts) and Free Cash Flow Before M&a From 2024 Onwards.
To Acquire Vonage Holdings Corp.
(nasdaq: Vg) for USD 21 per Share.
Merger Agreement Was Approved Unanimously by Board of Vonage.
Merger Consideration Represents a Premium of 28% to Vonage's Closing Share Price on 19 November 2021 of USD 16.37 per Share.
Acquisition Will Be Financed Through Ericsson's Existing Cash Resources.
Deal is Expected to Deliver Near-term Revenue Synergy Opportunities, Including White-labelling and Cross-selling of Combined Product Portfolio Estimated to Contribute USD 0.4 Billion.
Expects to Achieve Some Cost Efficiencies Following Completion of Transaction.
Remains Fully Committed to Previously Communicated Financial Targets.