Tekelec Acquired By Oracle

Tekelec, a developer of telecommunications switching equipment which had its roots in Southern California, has been acquired by Oracle, Oracle announced this morning. Financial terms of the buy were not disclosed. Tekelec had started in Southern California back in 1978, and had been a onetime technology darling when it had its IPO back in 1986. The firm, which was then based in Calabasas, moved out of the area in 2005, taking with it hundreds of jobs. The firm has since been in Morrisville, North Carolina. Tekelec's former Southern California executives are well represented as advisors, investors, and executives at local high tech companies.