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8-K - FORM 8-K - TOLLGRADE COMMUNICATIONS INC \PA\ | l42664e8vk.htm |
EX-3.1 - EX-3.1 - TOLLGRADE COMMUNICATIONS INC \PA\ | l42664exv3w1.htm |
Exhibit 99.1
Contact: Greg Nulty, Corporate Communications / Office: 724 720 1465
Tollgrade Communications Acquired by Golden Gate Capital
Cranberry Twp., Pennsylvania May 10, 2011 Tollgrade Communications, Inc. (Nasdaq: TLGD) today
announced the closing of its previously announced sale to Golden Gate Capital, a global private
equity firm. The transaction was completed in accordance with the terms of a merger agreement,
which was announced in February 2011 and approved by Tollgrade shareholders at a special meeting
held last week. In connection with the transaction, Tollgrades shares will cease to be publicly
traded.
Tollgrade is a leading provider of network service assurance solutions for telecommunications
operators in the United States and Europe and is a market leader in the broadband access market,
with approximately 112 employees around the globe. Tollgrades smart grid solutions for the
utilities industry enable electric utilities to provide real-time grid intelligence and immediate
fault detection, which helps to minimize the impact of outages and optimize utilization of assets.
We are very pleased that we successfully finalized this transaction with Golden Gate Capital. It
is an exciting day and an important milestone for Tollgrade, and we are looking forward to further
developing our market presence and serving our customers even better by enhancing our product
portfolio, said Ed Kennedy, CEO and president of Tollgrade Communications. Backed by the strength
of Golden Gate Capital, Tollgrade will continue to drive its leading technological position in
three key sectors: managed services, communications and smart grid.
Golden Gate Capital is a San Francisco-based private equity firm with more than $9 billion of
capital under management. The multi-sector fund has equity investments in companies across a broad
range of industries, including a rich background and growing presence in the telecommunications and
smart grid space.
We are excited to partner with Tollgrades existing management team to pursue a variety of growth
opportunities from such a stable and proven base of business, said John Knoll, managing director
of Golden Gate Capital. With the support of Golden Gates resources and deep industry expertise,
Tollgrade can continue to build upon its leading technologies and products to better serve its
customers. We are delighted to have Tollgrade join our portfolio.
About Tollgrade
Tollgrade Communications, Inc. (NASDAQ:TLGD) is a leading provider of network assurance solutions
for the telecommunications and utilities industries. Our real-time Smart Grid Monitoring solutions
allow utility customers to continuously detect key circuit parameters, and communicate mission
critical data wirelessly to a central location to provide Continuous Grid Intelligence. Tollgrade
telecommunication products and solutions enable communication service providers to efficiently
manage their access networks in an age of increased competition, continually evolving technology,
and ongoing pressure to reduce costs. Installed in more than 70 of the worlds telecommunications
operators, Tollgrade systems test over 250 million subscriber lines worldwide. For more
information, visit Tollgrade online at www.tollgrade.com.
TOLLGRADE COMMUNICATIONS, INC. 3120 Unionville Road, Suite 400 Cranberry Township, PA 16066 www.tollgrade.com
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private investment firm with approximately $9 billion
of capital under its management. The firms charter is to partner with world-class management teams
to make equity investments in situations where there is a demonstrable opportunity to significantly
enhance a companys value. The principals of Golden Gate have a long and successful history of
investing with management partners across a wide range of industries and transaction types,
including going-privates, corporate divestitures, leveraged buyouts and recapitalizations. For
additional information, visit www.goldengatecap.com.