• Media & Telecom

Los Angeles, CA —Platinum Equity announced today that it has completed the acquisition of Ulticom, Inc., a provider of signaling software used in communications networks.

The acquisition was a public-to-private transaction in which Platinum Equity acquired outstanding shares of Ulticom stock for merger consideration of $2.33 per share, after payment of a special dividend in the amount of $5.74 per share in cash.  Shares of Ulticom stock held by Ulticom’s controlling shareholder, Comverse Technology, Inc., did not receive merger consideration but were instead purchased pursuant to a share purchase agreement immediately prior to the closing of the merger for consideration of up to $2.33 per share.  The company previously traded on the NASDAQ Global Market under the ticker symbol “ULCM.”

Affiliates of Platinum Equity signed a definitive agreement to acquire Ulticom, Inc., on October 12, 2010.  Ulticom shareholders approved the acquisition on Thursday, December 2, 2010.

“Ulticom is well recognized for quality and innovation, and we believe the company is positioned to thrive as the market for high-bandwidth services continues to evolve,” said Matt Young, principal for Platinum Equity.

Ulticom’s signaling software enables telecommunications network equipment and service providers to deploy services within wireless, IP, and wireline networks. Ulticom’s products interconnect complex switching, database and messaging systems and manage number, routing, and billing information.

Mr. Young said that Platinum Equity has already launched a process focused on transitioning Ulticom to private ownership and improving overall business performance.

“We believe Ulticom and its customers will benefit from our operations expertise and our commitment to delivering world-class products and exceptional customer service,” said Mr. Young.

Paul, Hastings, Janofsky & Walker LLP acted as legal counsel to Platinum Equity. Morgan Keegan Technology Group acted as lead financial advisor to Ulticom and Duff & Phelps, LLC also provided a fairness opinion to Ulticom’s Board of Directors. Weil, Gotshal & Manges LLP acted as legal counsel to Ulticom in the transaction and Flaster/Greenberg P.C. acted as special New Jersey Counsel to Ulticom.

About Ulticom, Inc.
Ulticom provides service essential signaling component and system solutions for wireless, wireline, and Internet communications. Ulticom’s products are used by leading telecommunication equipment and service providers worldwide to deploy broadband mobile access, multimedia transport control, subscriber data management and enhanced communication services. Ulticom is headquartered in Mount Laurel, NJ with additional offices in the United States, Europe, and Asia.

About Platinum Equity
Platinum Equity is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.


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