Francisco Partners has purchased a 16.7% stake in Iconectiv, a subsidiary of Ericsson that has developed technology to interconnect telecom networks.

Iconectiv, a US-based telephony technology subsidiary of communucations equipment manufacturer Ericsson, secured $200m in funding on Friday from investment firm Francisco Partners in return for a 16.7% stake.

Francisco Partners has transferred the capital to Ericsson as a dividend. The two had signed the agreement in March 2017 before closing the deal last week.

Iconectiv’s technology lets clients interconnect networks, to add features such as call routing and billing, and allowing customers to keep their mobile phone number when switching…