MORRISVILLE, N.C.-Tekelec announced the completion of its acquisition of a minority interest in Santera Systems, for which Tekelec paid $75.6 million in cash in early August.
Tekelec said its fourth-quarter income statement will reflect 100-percent ownership of Santera.
“The purchase represents a significant milestone in the continued growth of our next-generation switching portfolio,” said Fred Lax, president and chief executive of Tekelec. “The Santera media gateway and softswitch have been the cornerstone of next-gen Class 4, Class 5, wireless and wireline solutions Tekelec is providing to Tier 1 operators around the globe. These solutions, bundled with our signaling and business intelligence offerings, competitively position Tekelec as the ideal choice to help operators deliver advanced, revenue-building services today and to guide their transition to tomorrow’s network technologies.”
In May 2003, the two companies agreed to combine their switching businesses and stated that Santera would be a majority-owned subsidiary of Tekelec.