Ericsson will acquire U.S telecom group Telcordia form its private equity owners Providence Equity Partners and Warburg Pincus, The Wall Street Journal reports. The Swedish telecom company will pay $1.15 billion for the New Jersey-based company.
The deal, which will add about 2,600 employees to the Swedish company’s staff, is expected to close in the fourth quarter, adds Bloomberg. Warburg Pincus and Providence acquired Telcordia from Science Applications International in 2005.
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