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|Ericsson Telcordia Acquisition|
Ericsson informs that the acquisition of Telcordia will likely not close before year-end as originally forecasted when the agreement was announced on June 14, 2011.
With approvals still outstanding from certain government authorities and as we are in the holiday season, the original estimate of closing by year-end is likely not probable.
Both companies continue to work diligently with the government authorities in order to close the acquisition as soon as possible. Our new estimate is in the beginning of 2012.
On June 14, 2011, Ericsson announced that it had entered into a merger agreement with Providence Equity Partners, LLC and Warburg Pincus to acquire 100% of the shares of Telcordia for USD 1.15 billion in an all cash transaction, on a cash and debt-free basis. The transaction includes approximately 2,600 employees and Telcordia's customer base.
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