Ericsson has entered an agreement to acquire cloud communications provider Vonage for $6.2 billion.

Ericsson intends to expand its wireless enterprise offerings globally and offer existing customers an increased share of a market that’s set to hit $700 billion by 2030. Ericsson’s acquisition of Vonage will help it achieve that goal.

Börje Ekholm, President and CEO of Ericsson, says:

“The core of our strategy is to build leading mobile networks through...