Avista Capital Partners and Telular Corporation announced that Avista Capital Partners successfully completed its acquisition of Telular. Earlier in the day, Avista Capital Partners announced the completion of its tender offer for all outstanding shares of Telular common stock.
As previously announced, Joe Beatty stepped down as chief executive officer of Telular in connection with the closing. Avista Capital Partners industry executive Allen Yurko will act as interim CEO while the board of directors conducts a search for a permanent successor and will serve as Chairman thereafter.