The Swedish network company Ericsson takes over the US provider of wireless solutions CradlePoint. According to Ericsson, the acquisition, involving USD 1.1 billion, will help to roll out the 5G network for fast mobile internet.
Ericsson is committed to gaining market share in the fast-growing 5G market. according to Ericsson, CradlePoint’s services are well suited to the company’s existing services.
The takeover must be completed this year. In addition, the usual approvals are required.