Willkie Advises on $1.15 Billion Sale of Telcordia Technologies to Ericsson

June 15, 2011

Willkie assists Telcordia, Providence Equity Partners and Warburg Pincus in the cash transaction.

On June 14, it was announced that Ericsson, the world leader in telecommunications technology and service, has reached an agreement to purchase Telcordia Technologies Inc., a global leader in the development of mobile, broadband and enterprise communications software and services, from private equity firms Providence Equity Partners, LLC and Warburg Pincus for $1.15 billion. Willkie advised Telcordia, Providence and Warburg in the cash transaction. Telcordia’s approximately 2,600 employees will join Ericsson. The deal is expected to reinforce and expand Ericsson's leading position in the operations support systems/business support systems (OSS/BSS) market.

Based in Piscataway, N.J. with offices throughout North America, Europe, Asia, Central and Latin America, Telcordia enables Communications Service Providers (CSPs), enterprises, suppliers and governments to successfully deploy innovative and advanced services. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and provides support for networks with over 2 billion subscribers and has the leading position in managed services.

Willkie previously advised Providence and Warburg on their 2004 acquisition of Telcordia from Science Applications International Corporation in what was then one of the largest ever buyouts of a software company. In addition, Willkie has represented Telcordia on notes offerings and the re-financings of its credit facility.

The current deal was handled by partners Steven Gartner, David Boston, Eugene Chang, Christopher Peters and Ian Levin; special counsel Russell Smith and Kim Walker; and associates Thomas Mark, Jennifer Wade, Amanda Burke and Jordan Messinger.