March 6, 2007 / 1:23 PM / 12 years ago

TEKELEC and Bouygues Telecom sign settlement agreement to end lawsuit

Co announces that it and Bouygues Telecom have signed a settlement agreement that ends Bouygues’ litigation against Tekelec arising out of a 2004 service interruption that occurred in Bouygues’ network. The terms of the settlement agreement are confidential; however, as part of the settlement, TKLC has agreed to provide $5 mln in credits to Bouygues which it can apply to its purchases of products and services from Tekelec. The impact of the $5 mln in credits on TKLC’s operating results will be recorded in the first quarter of 2007. The other terms of the settlement will not have any impact on the co’s financial condition or operating results. The settlement agreement also provides for mutual releases and the dismissal of the lawsuit with prejudice.

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