Ericsson completes Cradlepoint acquisition
Ericsson has completed its acquisition of Cradlepoint, which provides wireless WAN edge 4G/5G solutions for the enterprise market. According to Ericsson, the investment is key to its “ongoing strategy of capturing market share in the rapidly expanding 5G enterprise space.”
A spokesperson for Ericsson said: “Through Cradlepoint’s solutions, companies can connect sites, vehicles, mobile workforces, and IoT devices in a simple and secure way, using cellular technology. By leveraging the combined offering, Ericsson will be able to create valuable new revenue streams for its customers by supporting 5G-enabled services for enterprise."
Ericsson senior vice president Åsa Tamsons said: "I am very excited to welcome Cradlepoint to the Ericsson family. With its market leading solutions, we are strengthening our enterprise offering and taking an important step to lead the next wave of enterprise network transformation.”
Ericsson acquired Cradlepoint for around one billion US dollars. The latter company will continue operate as a stand-alone subsidiary.
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