Ericsson: Francisco Partners To Invest In Iconectiv - Quick Facts

(RTTNews) - Ericsson (ERIC) announced it has secured a minority investment in its iconectiv business from Francisco Partners, a technology investment firm. Francisco Partners will invest $200 million to acquire a 16.7% ownership at an implied valuation of approximately $1.20 billion. The $200 million will be transferred to Ericsson as a dividend, which Ericsson expects to receive in third quarter 2017. The transaction has no material impact on Ericsson group income.

Headquartered in the United States, iconectiv develops solutions that enable operators to interconnect networks. Theiconectiv also provides numbering solutions and most recently was designated by the U.S. Federal Communications Commission to serve as the Local Number Portability Administrator in the U.S. iconectiv is built on assets from Telcordia, a company Ericsson acquired in 2012.