Ericsson has completed its acquisition of US-based 4G and 5G enterprise solutions provider Cradlepoint.
The acquisition cost Ericsson around $1bn using cash-in-hand and allows the Swedish telecoms giant to expand its market share in the growing 5G enterprise space.
Cradlepoint will continue to operate under its original brand, offering cellular solutions that will help Ericsson provide new revenue streams for its customers using 5G-enabled services.
Asa Tamsons, Senior Vice President and Head of Business Area Technologies & New Businesses, Ericsson, said: “Together, we will power solutions to the customer edge that help improve productivity and deliver real-time services, enabling us to drive faster adoption of 5G in enterprise segments.
“This is good news for our customers as it helps them to accelerate their returns on 5G investments.”