Alcatel-Lucent to sell Genesys
BUSINESSBy BiztechAfrica - Oct. 20, 2011, 3:18 p.m.
Alcatel-Lucent has announced that it has received a binding offer of USD1.5 billion from a company owned by the Permira funds for the acquisition of its Genesys business.
The closing of the deal, expected by the end of 2011 or the beginning of 2012, is subject to review by the Committee on Foreign Investment in the United States (CFIUS), as well as to all necessary prior approvals and consultations in various countries.
The purchase price of USD1.5 billion would be paid in cash on a debt/cash-free basis.
Genesys – which reported 2010 sales of approximately USD500 million - is a leader in customer service software and contact center solutions for enterprises.
The contemplated deal would include the transfer of the approximately 1 800 employees worldwide, the management team and the existing business structure. The Enterprise division of the business will be retained within Alcatel-Lucent. It is expected that Enterprise and Genesys will enjoy an ongoing commercial relationship.
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