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Ericsson Affiliate Acquires Telcordia Technologies
As reported in Market Watch, Paul, Weiss client Ericsson announced on January 12, the acquisition of Telcordia Technologies from Warburg Pincus and Providence Equity Partners, LLC for $1.15 billion. The deal was an all cash transaction, on a cash and debt-free basis.
Telcordia is a software company that develops mobile, broadband and enterprise communications software and provides services to telecommunication service providers. It was one of the architects of the U.S. telephone system and helped devise functions like caller ID, call waiting, toll-free 800 numbers and mobile number portability. The acquisition is expected to boost Ericsson's expansion of its North American business, particularly in managed services for some of its existing large customers.
The Paul, Weiss team representing Ericsson in this transaction includes, among others, corporate partners John C. Kennedy, Dale M. Sarro and Marilyn Sobel, counsel Richard S. Elliott, Ji Lu and Didier Malaquin; tax partner Peter J. Rothenberg; employee benefits partner Lawrence I. Witdorchic and counsel Erin Murphy; litigation partners Daniel J. Kramer and Catherine Nyarady; and environmental partner Gaines Gwathmey.