Pending regulatory approval, the transaction is set to close in the first half of next year.
Upon completion, the technology giant expects to record a one-time gain of approximately $800 million (SEK 8.8 billion).
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Ericcson originally acquired Iconectiv, formerly known as Telcordia, in 2011 for $1.15 billion, but despite being profitable, its focus on number portability and data exchange services does not closely align with Ericsson’s primary business areas.
Headquartered in New Jersey, USA, Iconectiv specialises in network number portability and data exchange services.
It is currently the leading number portability administrator in 10 countries, including the United States.
The news comes as Ericsson recently recorded a billion-dollar impairment charge for its acquisition of Vonage in 2021, marking the second write-down on the deal.
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