July 7, 2022

Volume XII, Number 188

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Pending CFIUS Filing: Telefonaktiebolaget LM Ericsson and Vonage Holdings Corp.

STATUS: Pending


Acquirer: Telefonaktiebolaget LM Ericsson (Sweden)

Acquired: Vonage Holdings Corp. (US)

Value: US$6.2 billion

Industry Tags: Telecommunications

On November 22, 2021, Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) entered into an agreement to acquire Vonage Holdings Corp. (NASDAQ: VG), “a global provider of cloud-based communications,” for $6.2 billion.  (Press Release, Vonage Form 8-K, Ex-99.1, Nov. 22, 2021, SEC Filing.)  CFIUS clearance is a condition to closing.  (Agreement and Plan of Merger, Section 7.1(b)(iii), Vonage Form 8-K, Ex-2.1, Nov. 22, 2021, SEC Filing.)  The parties “filed a ‘declaration’ with CFIUS on December 29, 2021.” (Vonage Definitive Proxy Agreement, Jan. 10, 2022, SEC Filing.)  As of February 9, 2022, “the Merger remain[ed] subject to CFIUS Clearance.” (Vonage Form 8-K, Feb. 10, 2022, SEC Filing.)  The parties expect the transaction to close in the first half of 2022.  (Id.)

© Copyright 2022 Squire Patton Boggs (US) LLPNational Law Review, Volume XII, Number 126
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