Ericsson, a prominent Swedish multinational networking and telecommunications company gets US clearance to complete its much hyped and talked about acquisition of Vonage Holdings. The Committee on Foreign Investments in the United States has given its green signal to close this whopping $6.2 Billion acquisition. This is Ericsson’s one of the biggest ever acquisitions that aims to augment its fortunes in the enterprise market.

Vonage, an American cloud communications company was founded in 2001 and was initially known for its VoIP services. In the year 2020, Vonage reported its revenue earnings close to $1.25 Billion.

The US had put a scanner on this deal due to some suspicion about Ericsson for its recent Iraq related deals. Earlier as well, the US fined Ericsson for corrupt activities and irregularities. Green signal on this deal is thus seen as a moment of great relief for Ericsson that is hoping to gain big through this acquisition.

As per one of the company officials, it will take some time to close the process and start the integration process. It will be interesting to see how well and efficiently Ericsson aligns its strategic goals through this acquisition and which all targets it hits.