December 24, 2013
Alcatel-Lucent (NYSE: ALU) has struck a deal to sell LGS Innovations, its public sector subsidiary, to Madison Dearborn Partners and CoVant for $200 million as part of its ongoing shift to become a specialist in IP networking and broadband access.
Under the terms of the agreement, the Madison Dearborn/CoVant group will pay 50 percent of the total amount of the acquisition at closing and up to 50 percent depending on the divested company’s results in the fiscal 2014 year.
This deal affords a number of benefits to LGS.
Read the full article here: http://www.fiercetelecom.com/story/alcatel-lucent-sheds-public-sector-di…