Ericsson expands 5G portfolio with major acquisition
Ericsson has agreed to acquire Wireless WAN specialist Cradlepoint, for a fee of around $1.1 billion.
Speaking of the acquisition, Ericsson president and CEO, Börje Ekholm, said: "The acquisition of Cradlepoint complements our existing offerings and is key to our strategy of helping customers grow the value of their 5G network investments. Ericsson is uniquely positioned to build on Cradlepoint’s leadership position in wireless edge and the wireless WAN market.”
George Mulhern, CEO and chairman of Cradlepoint, said: “We have led the way in bringing the power of cellular networks and technologies to enterprise and public sector customers. Ericsson is a great match for us, and I am very excited to continue to scale and expand our business together.”
Ericsson’s current 5G enterprise portfolio includes dedicated networks, alongside a global IoT platform. Cradlepoint recently had a wireless router approved for use on the Emergency Services Network.
The transaction is expected to close before the end of this year.
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