Ericsson AB on Friday agreed to pay more than $1 billion to resolve claims that the Swedish telecommunications company paid bribes between 2000 and 2017 to build business in Asia, Africa and the Middle East, capping a long-running investigation with one of the largest penalties ever assessed in the U.S. government’s enforcement of anti-corruption law.

The settlement came three months after the Stockholm-based Ericsson, represented by Simpson Thacher & Bartlett partner Cheryl Scarboro, said it had set aside $1.2 billion to cover anticipated U.S. penalties. Under the terms of the settlement, Ericsson agreed to pay a $520 million criminal penalty to the Justice Department and give up about $540 million in alleged ill-gotten gains to the Securities and Exchange Commission.