December 20, 2013
IDG News Service (San Francisco Bureau) — LGS Innovations, a company formed during the Alcatel-Lucent merger to supply technology to the U.S. government, has been sold to a pair of U.S.-based investment companies for about US$200 million.
Alcatel-Lucent created LGS as part of the 2006 merger of France’s Alcatel and U.S. communications vendor Lucent Technologies. Under requirements from the Committee on Foreign Investment in the United States (CFIUS), the companies had to form LGS as a separate entity in order to continue doing classified work. It’s being acquired by private equity firm Madison Dearborn, based in Chicago, and holding company CoVant, based in McLean, Virginia. All of LGS’s nearly 700 employees will transition to the new ownership, the companies said.
Read the full story here: http://www.cio.com/article/744969/Alcatel_Sells_Federal_Technology_Unit_…