Swedish telecom manufacturer Ericsson AB is buying Vonage Holdings Corp. for US$6.2 billion, the firms announced Monday. Ericsson will pay US$21 per share for the New Jersey-based communications company. Vonage will become a wholly owned subsidiary and will continue to do business under its own name. Vonage CEO Rory Read will join the executive team at Ericsson, reporting to its CEO B\u00f6rje Ekholm. \u201cVonage gives us a platform to help our customers monetize the investments in the network, benefitting developers and businesses,\u201d Ekholm said in a news release. \u201cImagine putting the power and capabilities of 5G, the biggest global innovation platform, at the fingertips of developers.\u201d Read is quoted as saying, \u201cWe believe joining Ericsson is in the best interests of our shareholders and is a testament to Vonage\u2019s leadership position in business cloud communications, our innovative product portfolio, and outstanding team.\u201d Xplornet Communicatons Inc. is using Ericsson equipment for the rollout of its rural 5G standalone network. The network is being deployed first in New Brunswick, with expansion to other provinces to follow. Ericsson and ENCQOR 5G are rolling out a standalone network in Ontario and Quebec. ENCQOR 5G is a 5G laboratory, funded by the federal government. The Vonage communications platform has 120,000 customers and more than one million registered developers globally. The deal is subject to shareholder and regulatory approval and is expected to close within the first half of next year.