Dec 20, 2013
Another large business spin-off has hit the government market, this time with Alcatel-Lucent signing a deal to sell its federal business, LGS Innovations LLC, to an investor group.
The private equity group Madison Dearborn Partners, along with others including CoVant, will acquire LGS for $200 million. CoVant is the private equity group led by Joseph Kampf. It also owns A-T Solutions.
Alcatel-Lucent is in the midst of a transformation strategy it calls the The Shift Plan, and divesting LGS is part of a move to reposition the company as a specialist in IP networking and ultra-broadband access. The company is making divestments and other moves to shed about $1.4 billion in costs by 2015 while making other investments to raise the same amount in revenue, according Alcatel-Lucent.
Read the full article here: http://washingtontechnology.com/articles/2013/12/20/lgs-spin-off-alcatel…