Ericsson sells US subsidiary Iconectiv to Koch Equity Development for $1bn.

Ericsson has agreed to sell its US-based subsidiary, Iconectiv, to Koch Equity Development for $1 billion. Iconectiv provides number portability and data exchange services and has been part of Ericsson's portfolio since its acquisition in 2012. The sale is expected to help Ericsson streamline operations and bolster its financial position in the evolving telecoms market. The transaction is subject to customary closing conditions and regulatory approvals, and is expected to be completed in the first half of 2025.

August 19, 2024
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