Tekelec Announces Completion of Acquisition

MORRISVILLE, NC, Jan 27 (MARKET WIRE) --
Tekelec (NASDAQ: TKLC) today announced the completion of its acquisition
by a consortium led by Siris Capital Group, LLC ("Siris") and including
affiliates of The ComVest Group, funds and accounts managed by GSO
Capital Partners LP, Sankaty Advisors LLC, ZelnickMedia and other Siris
limited partners and affiliates, in a transaction valued at approximately
$780 million. The transaction was initially announced on November 7, 2011
and was approved by Tekelec's shareholders on January 25, 2012.

Tekelec's former shareholders (except for former Tekelec shareholders who
have properly exercised their dissenting shareholder rights) have the
right to receive $11.00 in cash, without interest and less applicable
withholding taxes, for each share of Tekelec's common stock they owned
immediately prior to the completion of the transaction subject to the
terms and conditions set forth in the Agreement and Plan of Merger, dated
as of November 6, 2011, by and among Tekelec, Titan Private Holdings I,
LLC and Titan Private Acquisition Corp. As a result of the closing of the
transaction, Tekelec's common stock will cease trading on NASDAQ and will
be delisted.

Shareholders who hold shares through a bank, broker or other nominee will
receive instructions from their bank, broker or other nominee as to how
to effect the surrender and receipt of cash for their stock. Shareholders
of record will receive a letter of transmittal and instructions on how to
surrender their former shares of Tekelec common stock in exchange for the
merger consideration. Shareholders of record should wait to receive the
letter of transmittal before surrendering their shares.

"Our new ownership structure will enable us to continue our rapid
expansion into the mobile data business and capitalize on our leadership
in the voice and text signaling business and to rapidly expand our mobile
data business," said Ron de Lange, president and CEO of Tekelec. "Going
forward, our customers can expect the same dedication to innovation,
customer service and support that define our company."

About Tekelec
Tekelec's intelligent mobile broadband solutions enable
service providers to manage and monetize mobile data and evolve to LTE
and IMS. We are the architects of the new Diameter network, the
foundation for session, policy and subscriber data management. More than
300 service providers use our market-leading solutions to deliver cloud,
machine-to-machine and personalized services to consumers and
enterprises. For more information visit www.tekelec.com.

Forward-Looking Statements
Statements in this press release regarding
the merger, future financial and operating results, benefits of the
merger, future opportunities for the combined company, and any other
statements about managements' future expectations, beliefs, goals, plans
or prospects constitute forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Any statements that
are not statements of historical fact (including statements containing
the words "believes," "plans," "anticipates," "expects," "estimates" and
similar expressions) should also be considered to be forward-looking
statements. There are a number of important factors that could cause
actual results or events to differ materially from those indicated by
such forward-looking statements, including the outcome of any legal
proceedings that may be or have been instituted in connection with the
merger and the other factors described in Tekelec's filings with the U.S.
Securities and Exchange Commission. Tekelec disclaims any intention or
obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release.

Contacts:
Kyle Macemore
Vice President Finance and Investor Relations
(o) +1.919.380.6148
kyle.macemore@tekelec.com

Adam Parken
Senior Manager, Marketing Communications
(o) +1.919.653.9681
adam.parken@tekelec.com

Copyright 2012, Market Wire, All rights reserved.

-0-