TEKELEC TO BUY TEXAS COMPANY.
Byline: Ben Sullivan Daily News Staff Writer
Tekelec, a maker of telephone and computer network testing equipment, said Tuesday that it will pay $163 million to acquire a Texas telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. firm.
The Calabasas firm said it will pay $63 million in cash and $100 million in short-term Short-term
Any investments with a maturity of one year or less.
1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. notes for closely-held IEX IEX Ion Exchange (chromatography)
IEX Inter-Exchange Carrier Corp. of Richardson, Texas Richardson is a suburb in Dallas County and Collin County, Texas. As of the 2000 census, the city had a total population of 91,803, while according to a 2006 estimate, the population had grown to 99,200. . Under terms of the deal, which is expected to close in June, IEX will become a wholly-owned subsidiary of Tekelec.
IEX produces hardware and software packages for telecom companies, large corporations and Internet service providers Internet service provider (ISP)
Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. . Tekelec officials said the company's business will complement its own network testing and equipment operations.
Tekelec officials were not available for comment Tuesday afternoon, but in a written statement accompanying the announcement, IEX President and Chief Executive Gary Crockett said the deal was a natural. ``The fit between our product family and Tekelec's is outstanding. Viewed from either side, it's a logical extension of functionality with virtually no overlap.''
Tekelec shares rose 6.25 cents, or less than 1 percent, to close at $8.