By Telecom Lead Team: Alcatel-Lucent
announced that it has formally signed and closed a definitive agreement for the
transfer of its Genesys business to a company owned by the Permira Funds and
Technology Crossover Ventures.
Alcatel-Lucent received a closing
cash payment of $1.5 billion.
Closure of the transaction comes after Alcatel-Lucent received a binding offer
from Permira for Genesys on October 19, 2011, and follows the completion of
regulatory approvals and consultations in various countries, including a review
by the Committee on Foreign Investment in the United States (CFIUS) and the
French Ministry of Economy and Finance.
Genesys reported 2010 sales of approximately US$500 million. Genesys provides
customer service software and contact center solutions for enterprises. The
agreement includes the transfer of approximately 1,800 employees worldwide, the
management team and the existing business structure of Genesys to ensure
seamless continuity with customers and other stakeholders.
