Koch Equity Development, the Wichita, KS-based investment and acquisition arm of Koch, Inc., announced an agreement to acquire iconectiv, LLC, a telecommunications solutions company, from Ericsson (NASDAQ: ERIC).
The amount of the deal was not disclosed.
With the acquisition, 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 2021 acquisition of Transaction Network Services, Inc. (“TNS”).
Headquartered in the United States, and led by CEO Richard Jacowleff, iconectiv offers solutions in information services, digital identity and numbering intelligence, which 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. It 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.
Koch Equity Development is the principal investment and acquisition arm of Koch, Inc. 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.
FinSMEs
19/08/2024