The firm led a consortium including Comvest Partners, GSO Capital Partners and Sankaty Advisors to take the business private in January 2012.
Tekelec aims to help wired and wireless service providers manage and monetise their mobile data and voice services on LTE, IMS and 3G networks.
Siris said that during its ownership the company had successfully implemented operational and structural improvements including disposing of non-core assets, refocused its R&D and strategy, and increased its visibility and industry profile.
Last December AltAssets broke the news that Siris had beaten its hard cap for its first buyout fund since spinning out of SAC Capital early last year.
The New York-based firm gathered almost $650m for technology, telecoms and technology-enabled business-focused Siris Partners II since it officially launched the fund 15 months ago.
That total is well above the firm’s $400m target for the fund, which will target control investments of between $250m and $1bn.
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