Providence Equity Partners and Warburg Pincus completed their acquisition of Telcordia Technologies from Science Applications International Corporation (SAIC). The two firms are co-equal partners in the deal; further terms of the transaction were not disclosed.
Telcordia, based in Piscataway, N.J., is a leading global provider of telecommunications software and services. The company’s solutions handle the complex tasks required to develop, maintain, monitor and fix today’s carrier networks.
http://www.telcordia.com
- In November 2004, Science Applications International Corporation (SAIC) agreed to sell its Telcordia subsidiary to Providence Equity Partners (Providence) and Warburg Pincus (Warburg) for $1.35 billion in cash.
- Telcordia was previously known as Bellcore prior to is acquisition by SAIC from the Regional Bell Operating Companies in 1997.
- In September 2003, Telcordia Technologies unveiled its “Elementive” portfolio for managing IP, optical and wireless networks. The open, configurable Elementive portfolio is based on industry standards including J2EE and TMF 513, and would let carriers implement modularized OSS/BSS components either from Telcordia or its partners. Telcordia said its new business model would help carriers increase new enterprise service revenues while lowering their operating costs through the use of off-the-shelf OSS/BSS products.