Ericsson acquires 5G enterprise firm for $1.1bln

Ericsson acquires 5G enterprise firm for $1.1bln

Ericsson has agreed to acquire Cradlepoint, a US-based market leader in Wireless Edge WAN 4G and 5G Enterprise solutions for $1.1 billion.The investment is key to Ericsson's ongoing strategy of capturing market share in the rapidly expanding 5G Enterprise space. Cradlepoint complements Ericsson's existing 5G Enterprise portfolio which includes Dedicated Networks and a global IoT platform.Cradlepoint will become a fully owned subsidiary of Ericsson while continuing to operate under its existing brand. Cradlepoint employees will remain within the company, headquartered in Boise, Idaho. It will be part of Ericsson's Business Area Technologies & New Businesses.The transaction is expected to close before the end of Q4 2020, subject to closing conditions.Wireless wide area network (wireless WAN) Edge solutions connect through 4G and 5G to deliver fast, secure, and flexible connectivity wherever