msn.com 18 Sep, 2020 07:15 am

Ericsson buys Cradlepoint in $1.1 billion deal

STOCKHOLM--Ericsson AB on Friday announced the acquisition of Cradlepoint, a U.S.-based provider of wireless internet connectivity products, for an enterprise value of $1.1 billion. "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," said Ericsson Chief Executive Borje Ekholm.

25% "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," said Ericsson Chief Executive Borje Ekholm.Ericsson said the deal is key to its continuing strategy of capturing market share in the rapidly expanding 5G enterprise space.-based provider of wireless internet connectivity products, for an enterprise value of $1.Cradlepoint's wireless wide area network Edge solutions connect through 4G and 5G to deliver internet connectivity wherever it is needed for businesses, mobility and critical frontline emergency services.

Write to Dominic Chopping at dominic.MarketWatch p STOCKHOLM--Ericsson AB on Friday announced the acquisition of Cradlepoint, a U.

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