Alcatel-Lucent
announced that it has received a binding offer of US$1.5 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 $1.5 billion would be paid in cash on
a debt/cash-free basis.

Genesys,
which reported 2010 sales of $500 million, is a provider of customer service
software and contact center solutions for enterprises.

“We
have now positively concluded our evaluation of strategic options for both our
Enterprise and Genesys businesses. Permira’s intended acquisition of Genesys
would enable this profitable business to flourish further,” said Ben Verwaayen,
CEO of Alcatel-Lucent.

 

“With
Enterprise, we have reached the conclusion that retaining it and strengthening
it further serves Alcatel-Lucent and our customers best. Our chosen direction
is to leverage the natural connections that exist between enterprise and
carrier customers, and proactively apply Enterprise’s strengths and momentum in
unified communications and data networking with them,” Verwaayen added.

The
contemplated deal would include the transfer of the approximately 1,800
employees worldwide, the management team and the existing business structure to
ensure seamless continuity with customers and other stakeholders.

“Genesys
is widely recognized as one of the world’s leading providers of customer
service software and contact center solutions, and we are excited by the
long-term growth potential of this business,” said Brian Ruder, partner at Permira. 

Genesys
and Enterprise would continue to enjoy a strong commercial relationship, with a
joint development agreement and the two businesses continuing to have access to
each other’s product portfolios.

By
Telecomlead.com Team
[email protected]