Genband buys Tekelec’s switching biz

Genband Inc. announced it has entered a definitive agreement to purchase Tekelec Inc.’s Switching Solutions Group division in a transaction that is expected to close in April.
“The combination of the two companies creates an enviable gateway and applications production portfolio and enables Genband to strengthen our relationship with our existing customers and business partners,” Genband President and CEO Charles Vogt said.
Under the agreement, Genband is paying $1 million in cash and a 19.9 percent common equity interest for the business, and will assume “certain liabilities” within Tekelec’s division.