Ericsson Closes $1.15B Deal to Buy Telcordia

Ericsson (NASDAQ: ERIC) announced Thursday it has closed its $1.15 billion cash acquisition of Telcordia.

Ericsson expects the deal to increase its earnings per share in the year after closing. Telcordia and its employees are now part of the Ericsson Group.

Ericcson’s business unit Multimedia will manage Telcordia, although Ericsson said Telcordia’s sales and margins may be shared between Ericsson’s business units depending on the portfolio type.

Ericsson announced its intent to acquire Telcordia in June 2011 after Ericsson entered a merger agreement with Providence Equity Partners, LLC and Warburg Pincus to acquire all Telcordia shares.

Ericsson said it made the deal to improve its position in the operational  and business support systems market.

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