STATUS: Clearance
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 have now satisfied all requisite foreign and U.S. regulatory requirements for the closing of the Merger, including as relates to the Hart-Scott-Rodino (HSR) Act and the Committee on Foreign Investment in the United States.” (Vonage Holdings Corp. Form 8-K, July 14, 2022, SEC Filing.)
