Ericsson Gets Clearance to Complete $6.2 billion Vonage Deal (1)

Ericsson AB’s acquisition of cloud-based communications provider Vonage Holdings Corp has received all necessary approvals from regulators, the Stockholm-based network equipment vendor said in a statement on Friday.

The $6.2 billion acquisition of Vonage, Ericsson’s biggest ever, had been delayed after it came under scrutiny by the US Committee on Foreign Investment. It will now be closed no later than on July 21.

The all-cash-deal, announced in November, is part of an effort by Ericsson to ramp up its cloud communications offering. The push into cloud-based services comes as its earnings have been affected by lost business in China ...