In today’s top Europe, Middle East and Africa news, Ericsson acquires Vonage in $6.2bn stock deal, and the U.K. leads the EU in driving global growth in the HealthTech sector. Plus, why Dutch firm Booking.com has made payments a strategic priority, Polish consumers embrace open banking and buy now, pay later (BNPL) solutions, and UK Finance calls for new open banking standards.
Ericsson Acquires Vonage in $6.2B Stock Deal
On Monday (Nov. 22), information and communication technology platform Ericsson announced its plans to acquire cloud-based communications company Vonage for about $6.2 billion.
This move will help Ericsson expand its wireless enterprise globally and increase its market share in a business segment that is projected to be worth $700 billion by 2030.
UK Leads EU in Driving Global Growth In HealthTech Sector
Following extended lockdowns and widespread disruption in social services, people have sought out alternative ways to access health services, leading to an increased use of technology and innovation in providing healthcare.
One of the countries driving this growth is the United Kingdom, which has the second-highest number of HealthTech companies that have received funding since 2016 (1,090), behind the United States (6,551).
Why Booking.com has Made Payments a Strategic Priority
While discussing new initiatives during a recent third-quarter earnings call, Booking.com CEO Glenn Fogel told analysts that the company had made its new internal FinTech unit focused on payments, along with its ‘Connected Trip’ initiative — two of the strategic cornerstones for growth as the travel industry moves away from months of pandemic-related restrictions.
Polish Consumers Embrace Open Banking, BNPL Solutions
The CEO of Poland-based firm BLIK, Dariusz Mazurkiewicz, tells PYMNTS that BNPL is a key part of the eCommerce business — and that despite operating in a market where debit cards are more popular than credit, the bank-owned mobile payments firm is working towards offering the solution sooner rather than later.
UK Finance Calls for New Open Banking Standards
The U.K. should develop new open banking standards, according to a new report on open banking payments issued by the trade association UK Finance.
“There are now over 2.5 million open banking payments a month compared to just 320,000 in the whole of 2018, and the recommendations in the report will help support the development of more products and services for consumers,” the group wrote.
Protests Heat up Across Europe Over Renewed COVID Restrictions
Protests are erupting across Europe as renewed COVID-19 restrictions and lockdowns are implemented amid escalating cases of the virus.
Demonstrations voicing opposition to the new restrictions have been erupting in Brussels, Vienna, Rome and Amsterdam, among other places in Europe. Protests in Vienna broke out following Austria’s fourth national lockdown, which went into effect on Monday (Nov. 22) and requires employees to work from home and nonessential stores to close.
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