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Ericsson Secures $200 Million Investment in iconectiv Business From Francisco Partners
- Client News
- March 7, 2017
Paul, Weiss is representing Ericsson and inconectiv in the sale of a minority stake in iconectiv to technology investment firm Francisco Partners. Ericsson launched iconectiv, a leading partner in the communications industry enabling the interconnection of networks, devices and applications, in 2013; the FCC recently awarded the company a contract as the Local Number Portability Administrator in the U.S., which handles cell phone number portability. Francisco Partners will invest $200 million to acquire a 16.7 percent ownership at an implied valuation of approximately $1.20 billion. The transaction is expected to close in the third quarter of 2017.
The Paul, Weiss team included, among others, corporate partners Jeffrey Marell and Ross Fieldston and counsel Ji Lu; tax partners David Sicular, Richard Bronstein and Jeffrey Samuels; employee benefits partner Lawrence Witdorchic and counsel Reuven Falik; antitrust counsel Marta Kelly; intellectual property counsel Menachem Kaplan; international trade counsel Richard Elliott; and environmental counsel William O’Brien.