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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Ericsson AB    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
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Real-time Estimate Quote. Real-time Estimate CHI-X - 10/22 11:25:00 am
109.55 SEK   +1.44%
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04:53aERICSSON B : Goldman Sachs reiterates its Buy rating
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Ericsson : Buys Cradlepoint in $1.1 Billion Deal

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09/18/2020 | 02:34am EDT

By Dominic Chopping

 

STOCKHOLM--Ericsson AB on Friday announced the acquisition of Cradlepoint, a U.S.-based provider of wireless internet connectivity products, for an enterprise value of $1.1 billion.

"The acquisition of Cradlepoint complements our existing offerings and is key to our strategy of helping customers grow the value of their 5G network investments," said Ericsson Chief Executive Borje Ekholm.

Cradlepoint's wireless wide area network Edge solutions connect through 4G and 5G to deliver internet connectivity wherever it is needed for businesses, mobility and critical frontline emergency services. Ericsson said the deal is key to its continuing strategy of capturing market share in the rapidly expanding 5G enterprise space.

The purchase price, funded from Ericsson's cash-in-hand, will be paid in full on closing, which is expected before the end of the fourth quarter 2020.

Founded in 2006, Cradlepoint has over 650 employees between its headquarters in Boise, Idaho, a research and development center in Silicon Valley, California, and market offices in the U.K. and Australia.

Cradlepoint's sales for 2019 were 1.2 billion Swedish kronor ($136.1 million) and it had a gross margin of 61%. Ericsson's operating margins are expected to be negatively impacted by approximately 1% in 2021 and 2022, but Cradlepoint is expected to contribute to operating cash-flow starting in 2022.

Ericsson's 2022 group financial targets remain unchanged.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 


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Financials
Sales 2020 232 B 26 431 M 26 431 M
Net income 2020 15 334 M 1 750 M 1 750 M
Net cash 2020 20 854 M 2 380 M 2 380 M
P/E ratio 2020 23,6x
Yield 2020 1,47%
Capitalization 365 B 41 648 M 41 664 M
EV / Sales 2020 1,49x
EV / Sales 2021 1,38x
Nbr of Employees 99 826
Free-Float 89,0%
Chart ERICSSON AB
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Technical analysis trends ERICSSON AB
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 114,49 SEK
Last Close Price 109,00 SEK
Spread / Highest target 22,0%
Spread / Average Target 5,04%
Spread / Lowest Target -21,1%
EPS Revisions
Managers
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Ronnie Leten Chairman
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Erik Ekudden Chief Technology Officer & Senior Vice President
Torbjörn Nyman Director
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