Latham Group, Inc. shares rise 6.71% intraday after Koch Equity Development, LLC completed the acquisition of Telcordia Technologies, Inc.

Latham Group, Inc. rose 6.71% in intraday trading. The company's stock price increase may be attributed to the acquisition of Telcordia Technologies, Inc. by Koch Equity Development, LLC for approximately $1 billion. This acquisition is expected to benefit Ericsson, the previous owner of Telcordia Technologies, with a cash benefit of approximately $1 billion after settling anticipated taxes, transaction expenses, and other liabilities.