Telcordia sold for $1.3 billion

Telcordia Technologies has been sold by SAIC for $1.3 billion to Providence Equity Partners and Warburg Pincus. SAIC acquired Telcordia, formerly known as Bellcore, in 1997 for about $700 million, Light Reading says. The deal values the company at about 1.5 times its 2004 revenues, estimated to be around $880 million.