STOCKHOLM (Reuters) -Swedish telecom gear maker Ericsson has created a new joint venture for selling network software tools with more than a dozen telecom operators across regions, it said in a statement on Thursday.
It said the firms it joined forces with to accelerate the adoption of application programming interface (API) software included Deutsche Telekom and Vodafone in Europe, Verizon and AT&T in the U.S. and Bharti Airtel and Reliance Jio in India.
Cloud communication platforms Vonage, bought by Ericsson in 2022, and Google Cloud will also join the initiative, it said.
Ericsson already in 2023 partnered with Deutsche Telekom to offer API solutions for operators, allowing these to broaden their revenue base, using Vonage.
The Swedish group bought Vonage for $6.2 billion to offer operators a global platform for APIs. Ericsson has however since then made two significant writedowns on the acquisition due to sluggish market growth.
Despite this, Ericsson affirmed its commitment to build such a platform following the most recent writedown in July.
(Reporting by Supantha Mukherjee and Anna Ringstrom, editing by Stine Jacobsen)
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