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Paul, Weiss Advises Ericsson In Telcordia Deal
- Client News
- June 15, 2011
As reported in The Wall Street Journal and other media outlets, Paul, Weiss client Ericsson signed a definitive agreement on June 13 to buy Telcordia Technologies from Warburg Pincus and Providence Capital for $1.15 billion in cash.
Telcordia is a software company that develops mobile, broadband and enterprise communications software and provides managed and other services to telecommunication service providers. It was one of the architects of the U.S. telephone system and helped devise basic functions like caller I.D., 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 to some of its existing large customers.
The transaction is subject to regulatory approvals and is expected to close in the fourth quarter of 2011.
The Paul, Weiss team representing Ericsson in this transaction includes M&A partner Marilyn Sobel and counsel Richard S. Elliott, Ji Lu and Didier Malaquin; securities partner John C. Kennedy; tax partner Peter J. Rothenberg; employee benefits partner Lawrence I. Witdorchic and counsel Reuven Falik and Erin Murphy; litigation partners Daniel J. Kramer and Catherine Nyarady; and environmental partner Gaines Gwathmey.