Ericsson Purchases Telcordia for $1.15 Billion
Ericsson today announced that it has agreed to purchase Telcordia for the sum of $1.15 billion in cash. Telcordia, which is based in New Jersey, creates mobile, broadband, and business communications software and services. Telcordia's 2,600 employees will be absorbed by Ericsson, which will use Telcordia's expertise to provide better operations support systems to its customer base. The deal is expected to close in the fourth quarter of 2011.