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Tekelec Sells IEX 629478

Tekelec has closed the sale of its IEX business unit to Nice Systems

July 6, 2006

1 Min Read

MORRISVILLE, N.C. -- Tekelec (NASDAQ: TKLC), a leading developer of high-performance network applications for next-generation fixed, mobile and packet networks, today announced that it has closed the sale of its IEX business unit to NICE Systems Inc., a subsidiary of NICE-Systems Ltd. (NASDAQ: NICE).

As previously announced, in April 2006, Tekelec and NICE-Systems Ltd. entered into a definitive agreement for the purchase by NICE- Systems Ltd. from Tekelec of all of the stock of Tekelec's wholly owned subsidiary, IEX Corporation, a leading global provider of workforce management and optimization technology for contact centers. The purchase price was $200 million in cash, subject to a post-closing working capital adjustment. The Company estimates that it will realize net proceeds of $160-$165 million, after payment of applicable income taxes and transaction costs.

Tekelec

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