Alcatel-Lucent Reaps $200M In Sale Of LGS Innovations

Law360, New York (December 20, 2013, 12:01 PM EST) -- Alcatel-Lucent SA will sell U.S. government communications provider LGS Innovations LLC to a private equity fund backed by holding company CoVant Inc. for $200 million, as part of the global communications provider's plan to provide only IP networking and broadband access, Alcatel said Friday.

A Madison Dearborn Partners LLC-led group of investors will pay $100 million at closing and will fork over another $100 million as long as LGS Innovations meets undisclosed performance benchmarks in 2014, according to a statement.

Selling off LGS Innovations allows France-based...
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