A Siris Capital-led private equity group is acquiring network technology provider Tekelec for approximately $780 million in cash, Reuters reports. The private equity consortium includes associates of ComVest Group, GSO Capital Partners, Sankaty Advisors and ZelnickMedia apart from Siris Capital.
Goldman Sachs is providing financial advice to Tekelec. Financial advisers to the consortium are Perella Weinberg Partners and Macquarie Capital. Tekelec, which generated $424 million annual revenue in 2010, assists phone companies provide services such as text messaging.
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