News18»Business
1-MIN READ

Ericsson To Acquire Cradlepoint In $1.1 Billion Deal

Ericsson To Acquire Cradlepoint In $1.1 Billion Deal

Telecoms gear maker Ericsson said on Friday it would acquire Cradlepoint, a provider of wireless WAN solutions, in a deal worth $1.1 billion on an enterprisevalue basis.

STOCKHOLM: Telecoms gear maker Ericsson said on Friday it would acquire Cradlepoint, a provider of wireless WAN solutions, in a deal worth $1.1 billion on an enterprise-value basis.

The Swedish firm said operating margins would be negatively affected by about 1% in 2021 and 2022, with half of it related to amortization of intangible assets.

Idaho, U.S.-based Cradlepoint had sales of 1.2 billion crowns ($137 million) in 2019, with a gross margin of 61%.

Ericsson said its 2022 group financial targets remained unchanged.

($1 = 8.7732 Swedish crowns)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor


Next Story
Loading...