SAN DIEGO-Providence Equity Partners and Warburg Pincus have signed a deal to acquire Telcordia Technologies Inc. for $1.35 billion in cash, according to Science Applications International Corp., which owns Telcordia.
Telcordia makes software that develops, maintains, monitors and fixes carrier networks accounting for 80 percent of U.S. telephony traffic, according to SAIC.
“Providence and Warburg have the resources available to enable us to reach our full potential, capitalize on our market-leading intellectual capital and secure a global leadership position,” said Matt Desch, chief executive officer at Telcordia.
The deal is subject to customary closing conditions, including regulatory approval, said SAIC.<p
