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Mergers and Acquistions News

Categories: Telecoms

November 7th 2011, 13:32PM

Mobile broadband solutions firm Tekelec is set to be acquired by a consortium headed up by the Siris Capital Group, it has emerged today (November 7th).

Siris is leading a group including affiliates from ComVest, Sankaty Advisors and GSO Capital Partners that will purchase the company - whose operations are deployed by more than 300 operators worldwide - for a sum of around $780 million (£485 million).

This represents a price of approximately $11 per share in cash - which is some 38 per cent higher than Tekelec's 30-day average closing price - and officials from both organisations expect the deal to be concluded during the early stages of next year.

Ron de Lange, president and chief executive officer of Tekelec, said this agreement will in no way compromise the "innovation and quality" enjoyed by the firm's customers, as its management team are expected to remain in place.

"In addition, the acquisition will provide us even greater flexibility to deliver best-in-class solutions for the mobile data and video market," he stated. ADNFCR-1833-ID-800788061-ADNFCR

 

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