Wednesday, April 2, 2014

Alcatel-Lucent Completes Sale of LGS Innovations

Alcatel-Lucent completed its previously announced sale of its subsidiary LGS Innovations LLC to a US-based company owned by a Madison Dearborn Partners-led investor group that includes CoVant.

LGS Innovations LLC provides secure networking, satellite communications, VoIP, optical routers and other solutions for the US national security, defense, and advanced research communities, and has a heritage as a trusted partner of the US Federal Government extending back over 60 years.  The company is based in Herndon, Virginia.

The sale price was $200 million, of which 50% is paid at closing.