Topic summary
Telcordia
Extracted from the Wikipedia article Iconectiv.
Acquisition by Ericsson
On June 14, 2011, Ericsson announced an agreement to acquire Telcordia for $1.15 billion. On January 12, 2012, Telcordia became a wholly owned subsidiary of Ericsson. On June 15, 2011, Ericsson announced the completion of the purchase from private-equity firms Providence Equity Partners and Warburg Pincus, with the goal to pursue industry trends that include mobile broadband, managed services/outsourcing and global OSS/BSS transformation. The acquisition, which officially closed on January 12, 2012, added about 2,600 employees to Ericsson's staff. On June 4, 2012, Telcordia and its products were officially rebranded as Ericsson.