Demonstrates KED's strategic focus on telecommunications
software and data services
WICHITA,
Kan., Aug. 16, 2024 /PRNewswire/ -- Koch Equity
Development LLC ("KED"), the principal investment and acquisition
arm of Koch, Inc., today announced an agreement to acquire
iconectiv, LLC, a telecommunications solutions leader, from
Ericsson (NASDAQ: ERIC), the global supplier of mobile
communication and connectivity solutions for service providers and
enterprises, and affiliates of Francisco Partners, a leading
technology investment firm.
Under the agreement, iconectiv will become a wholly-owned
independent subsidiary of KED and will continue to be managed by
iconectiv's leadership team based in Bridgewater, New Jersey. The agreement to
acquire iconectiv underscores KED's continued investment focus on
telecommunications software and data services, building on the
successful 2021 acquisition of Transaction Network Services, Inc.
("TNS"). With KED's resources and capital, iconectiv will be
well-positioned to unlock both organic and inorganic growth
opportunities.
iconectiv is the authoritative partner to many of the largest
communications service providers in the
United States and international markets. Its core network
and operations management, numbering and data exchange services
span trusted communications, digital identity management and
fraud prevention. The world leader in providing number
portability solutions, iconectiv is the number portability
administrator in 10 countries, including the United States. The company is also the
trusted technology partner to CTIA, the wireless trade association
in the United States, serving as
the administrator of the nation's Short Code Registry. Working with
the Alliance for Telecommunications Industry Solutions (ATIS),
iconectiv serves as the Secure Telephone Identity Policy
Administrator (STI-PA) for the United
States, a critical role in industry efforts to mitigate
illegal robocalling.
"iconectiv is excited to join KED along with the resources and
capabilities they have to support our next chapter of growth. This
acquisition marks a significant milestone in our journey, aligning
us with a shareholder focused on long-term value creation that
extends our track record as a trusted partner to service providers
and regulators in the communications sector," said Richard Jacowleff, CEO of iconectiv. "On behalf
of iconectiv, we want to thank Ericsson and Francisco Partners for
their many years of support. We believe KED is the right partner
for our employees and the company to continue executing our
long-term vision by providing reliable and trusted communications
solutions to our customers globally."
"We have been impressed with the solutions iconectiv continues
to deliver, and we are thrilled to welcome Rich and team to the KED
platform," said Matt Hewitt,
Managing Director at KED. "iconectiv's innovative culture,
technical expertise, and customer focus align with KED's vision for
expanding our capabilities in telecommunications and technology. We
look forward to supporting their continued growth and helping them
deliver even greater value to their customers."
The transaction is subject to certain regulatory approvals and
is expected to close in the first quarter of 2025. Rothschild &
Co and Citi served as financial advisors to KED, and Jones
Day served as legal advisor to KED. Jefferies LLC and Goldman
Sachs & Co. LLC served as financial advisors to iconectiv, and
Latham & Watkins LLP served as legal advisor to iconectiv.
About iconectiv
Headquartered in the United States, iconectiv market-leading
solutions in information services, digital identity and numbering
intelligence are used by more than 5,000 service providers,
regulators, enterprises, and content providers worldwide each day
to keep their networks, devices and applications connected. With an
unparalleled depth of experience, iconectiv manages programs on
behalf of partners including serving as the U.S. Short Code
Registry Administrator, U.S. Secure Telephone Identity Policy
Administrator (STI-PA) and administrator of the country's
telecommunications Relay Service for those requiring auditory or
speech communication assistance to communicate. Globally, iconectiv
is the Number Portability Administrator in 10 countries, including
the United States.
About Koch Equity Development LLC (KED)
Koch Equity Development is the principal investment and acquisition
arm of Koch, Inc. ("Koch"), one of the largest privately held
businesses in America. Since 2012, KED has deployed more
than $35 billion in equity investments and acquisitions.
With revenue as high as $125 billion, Koch companies employ
about 120,000 people worldwide, with nearly half of those in
the United States.
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SOURCE Koch Equity Development