Ericsson expands 5G portfolio with major acquisition

21/09/2020

Ericsson has agreed to acquire Wireless WAN specialist Cradlepoint, for a fee of around $1.1 billion.

According to Ericsson, the investment is key to its strategy of “capturing market share in the rapidly-expanding 5G enterprise space.” Cradlepoint - which is headquartered in Boise, Idaho - will become a fully owned subsidiary of the company, while continuing to operate under its own name.

Speaking of the acquisition, Ericsson president and CEO, Börje Ekholm, said: "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. Ericsson is uniquely positioned to build on Cradlepoint’s leadership position in wireless edge and the wireless WAN market.”

George Mulhern, CEO and chairman of Cradlepoint, said: “We have led the way in bringing the power of cellular networks and technologies to enterprise and public sector customers. Ericsson is a great match for us, and I am very excited to continue to scale and expand our business together.”

Ericsson’s current 5G enterprise portfolio includes dedicated networks, alongside a global IoT platform. Cradlepoint recently had a wireless router approved for use on the Emergency Services Network.

The transaction is expected to close before the end of this year.

For the latest industry developments, register your interest and join us at BAPCO 2021

Media contact

Philip Mason
Editor, Critical Communications Portfolio
Tel: +44 (0)20 3874 9216
Philip.mason@markallengroup.com

FOLLOW US ON TWITTER