Telecom company Ericsson has completed its acquisition of Cradlepoint, the US-based market leader in WAN Edge 4G and 5G wireless solutions for the enterprise market
Investment is vital to Ericsson’s ongoing strategy to capture market share in the rapidly expanding 5G enterprise space.
Closing of the acquisition follows the announcement on 18 September 2020 of Ericsson’s intention to acquire Cradlepoint.
Using Cradlepoint solutions, companies can connect sites, vehicles, mobile workers and IoT devices in a simple and secure manner using cellular technology. By leveraging the combined offering, Ericsson will be able to generate valuable new revenue streams for its customers by supporting 5G-enabled enterprise services and boosting the return on investment in the network.
Ericsson’s global presence and long-standing relationships with the leading service providers will also help accelerate Cradlepoint’s international expansion.
Cradlepoint will operate as a stand-alone subsidiary within Ericsson and continue to build on the current market momentum as 5G is speeding up digital transformation and increasing the need for advanced connectivity services for enterprises. Cradlepoint will be part of Ericsson’s Business Area Technologies & New Businesses.
Asa Tamsons, senior vice-president and head of Business Area Technologies & New Businesses, said, “With Cradlepoint’s market-leading solutions, we are strengthening our enterprise offering and taking an important step to lead the next wave of enterprise network transformation. Together, we will power solutions to the customer edge that help improve productivity and deliver real-time services, enabling us to drive faster adoption of 5G in enterprise segments. This is good news for our customers as it helps them to accelerate their returns on 5G investments.”
