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Tekelec Shareholders Approve Merger Agreement

January 26, 2012 By: NCTechNews Category: Broadband

(Morrisville, N.C.) Tekelec (NASDAQ: TKLC) today announced that at a special meeting held today its shareholders voted to approve the Agreement and Plan of Merger, dated November 6, 2011 (the “merger agreement”), providing for the acquisition of Tekelec by a consortium led by Siris Capital Group, LLC (”Siris”) and including affiliates of The ComVest Group, funds and accounts managed by GSO Capital Partners LP, Sankaty Advisors LLC, ZelnickMedia and other Siris limited partners and affiliates.

Upon consummation of the proposed merger, Tekelec shareholders (except for Tekelec shareholders who have properly exercised their dissenting shareholder rights) will have the right to receive $11.00 in cash, without interest and less applicable withholding taxes, for each share of Tekelec common stock they owned immediately prior to the merger subject to the terms and conditions set forth in the merger agreement.

The transaction is currently expected to close by the end of January 2012.

About Tekelec
Tekelec’s intelligent mobile broadband solutions enable service providers to manage and monetize mobile data and evolve to LTE and IMS. We are the architects of the new Diameter network, the foundation for session, policy and subscriber data management. More than 300 service providers use our market-leading solutions to deliver cloud, machine-to-machine and personalized services to consumers and enterprises. For more information visit www.tekelec.com.

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