Telecom giant Ericsson has decided to sell its stake in digital identity and number portability solutions provider iconectiv to Koch Equity Development (KED) for roughly $1 billion. The sale includes Francisco Partners’ nearly 17 percent stake in iconectiv, which it acquired in 2017. Iconectiv serves over 5,000 customers globally and is a crucial player in number portability and digital identity management, including managing critical U.S. telecommunications infrastructure. Koch Equity Development views the acquisition as a strategic expansion into telecommunications software and data services, building on its previous acquisitions in the sector.
Ericsson to Sell Phone ID Business for $1B
