Notable Mergers and Acquisitions of the Day: TLAB, RSCR
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- Notable Mergers and Acquisitions of the Day: TLAB, RSCR
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- Tellabs Inc. (NASDAQ: TLAB) announced today that it will acquire WiChorus. The combination will create an advanced 3G/4G network that will revolutionize the mobile Internet, deliver new applications to generate revenue and simplify networks to achieve significant savings for mobile carriers.
Under the terms of the transaction, which was approved by both companies' boards of directors, Tellabs will pay approximately $165 million in net cash for WiChorus. The transaction is expected to be dilutive to Tellabs' earnings in 2010, then additive to Tellabs' non-GAAP earnings in 2011 and beyond. Non-GAAP earnings exclude amortization associated with acquired intangibles and other purchase accounting adjustments.
The acquisition adds WiChorus' breakthrough SmartCore(TM) mobile packet core platform, the only currently available platform that is purpose-built for 4G, LTE and WiMax, with support for 3G.
- ResCare, Inc. (NASDAQ: RSCR) today announced that it has acquired the assets of All Quality Care.
All Quality Care serves approximately 220 people in 10 New Jersey counties including Sussex, Hunterdon, Warren and Essex. Annual revenues are expected to be approximately $5 million and include a mix of private, insurance and Medicaid. All Quality Care will be a part of ResCare HomeCare.
"We welcome All Quality Care to the ResCare HomeCare family. They offer exceptional services in New Jersey, which expands our home care services into our 31st state," said Ralph G. Gronefeld, Jr., ResCare president and chief executive officer. "Their services fit well into our current business plan and will help us reach our goal of establishing a national home care presence."
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