According to reports, Vonage will be under Ericsson’s business area global communications platform.

The acquisition includes Vonage’s more than one million registered developers access to 4G and 5G network capabilities via open Application Program Interfaces (APIs).

Ericsson stated APIs provide new growth opportunities as the market is growing 30% annually and is projected to reach US$22 billion ($31 billion) by 2025.

Ericsson intends to beef up its research and development investments and offer these to CSPs to accelerate growth in Vonage’s UCaaS and CCaaS solutions.

Ericsson will also offer small and medium-sized companies with the Vonage UCaaS and CCaaS solutions, which will form a strong part of Ericsson’s offerings to both CSPs and enterprises.

“We will continue to create new, enhanced applications and services for enterprises, while driving continued innovation on Vonage’s UCaaS and CCaaS applications, helping businesses create new digital experiences for better communications, connections and engagement,” Ericsson president and CEO Börje Ekholm said.

“By linking the network world with the global developer community, we’re creating a paradigm shift that will put the network at the centre, allowing the CSPs a new monetisation opportunity supporting increasing investments in high-performance networks.”