Mergers and Acquistions News
Categories: IT Services & Consulting
October 8th 2008, 15:22PM
Service management software company Motive is now a wholly owned subsidiary of Paris-based Alcatel-Lucent, it has been announced.
Alcatel-Lutel completed its acquisition of the Texas firm this week, four months after it revealed that it had entered into a definitive agreement to purchase the company.
It made a cash tender offer of $2.23 (£1.26) a share for all outstanding stock, in a deal that was estimated to be worth in the region of $67.8 million.
The tender offer was extended twice, in August and September, before it was finally completed on October 7th.
Alcatel-Lucent's president Luis Martinez Amago explained that the acquisition should be good news for consumers.
"Motive is enriching Alcatel-Lucent's portfolio with an expanded application suite that is ideally suited to the challenge of enhancing consumers digital life," he remarked.
Mr Amago's company was selected at the end of September to provide communications giant Telefonica with its home network management solution.
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