Ericsson has secured a minority investment from Francisco Partners, a leading global private equity firm, which specializes in investments in technology businesses, for its iconectiv business.
Francisco Partners will invest USD 200 million to acquire a 16.7% ownership in iconectiv. Headquartered in the United States, iconectiv which was built on assets from Telcordia, a company Ericsson acquired in 2012, develops market-leading solutions that enable operators to interconnect networks.
The company's solutions are used by more than 1,200 service providers, regulators, enterprises, and content providers worldwide, claims Ericsson. iconectiv is also the global leader in providing 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.
Since its launch over 17 years ago, Francisco Partners has raised over USD 10 billion in capital and invested in nearly 200 technology companies. In 2015, the company acquired Procera Networks in an all-cash transaction valued at approximately $240 million.