Ericsson, a Swedish multinational networking and telecommunications company, completed the acquisition of Vonage Holdings, an American publicly held business cloud communications provider, for $6.2bn. "The core of our strategy is to build leading mobile networks through technology leadership. This provides the foundation to build an enterprise business. The acquisition of Vonage is the next step in delivering on that strategic priority. Vonage gives us a platform to help our customers monetize the investments in the network, benefitting developers and businesses. Imagine putting the power and capabilities of 5G, the biggest global innovation platform, at the fingertips of developers. Then back it with Vonage's advanced capabilities, in a world of 8bn connected devices. Today we are making that possible," Börje Ekholm, Ericsson President and CEO. On June 28, 2022, Ericsson delays the closing of the deal to the end of July, 2022. On July 15, Ericsson receives regulatory approval to complete acquisition of Vonage.