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Atlantic Bridge-led consortium acquires LogicaCMG's Telecoms Products business21/02/2007. Source: AltAssets. 
 European multi-stage technology private equity fund Atlantic Bridge Ventures has led a consortium of private equity buyers in the acquisition of LogicaCMG's Telecoms Products business, for a cash consideration of £265m.
The consortium is led by Atlantic Bridge and its venture partner Larry Quinn, the former CEO and chairman of Logica Mobile Networks. The Atlantic Bridge consortium is 50 per cent supported by Access Industries, a US-based industrial holding company. It is also supported by Dermot Desmond's private equity vehicle International Investment and Underwriting.
Telecoms Products is a provider of converged mobile messaging solutions for text and multimedia messaging. The company employs approximately 1,700 people across 22 countries. In 2005 it generated total EBITDA of £23m, according to a statement. As part of the transaction Telecoms Products will be renamed Acision.
Brian Long, managing partner, Atlantic Bridge, said, 'This investment marks a significant step for Atlantic Bridge following our launch in 2005 and represents the foundation of our investment strategy of targeting businesses operating in high-growth sectors within our core areas of industry expertise. The consortium has significant expertise in working within the telecom infrastructure sector, and we are delighted to have invested alongside Access Industries, and International Investment and Underwriters.
'We have been hugely impressed with the quality of Acision's people, its portfolio and the extensive customer base. We, and our consortium partners, plan to invest substantially in Acision's portfolio. Given the wealth of industry expertise within the consortium, we are confident that we can drive growth in the business to the benefit of our investors and Acision's customers and employees in the years to come,' Long continued.
Atlantic Bridge focuses on the telecoms infrastructure, semi conductor and software markets.
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