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Alcatel Lucent to Purchase Motive Inc. for $67.8 Million
Multinational telecom equipment giant, Alcatel Lucent, announced on Tuesday that it is purchasing Motive Inc., a developer of broadband service management software, in a deal valued at $67.8 million.
The buyout values Motive at $2.23 per share, and represents a premium of almost 53% over the company’s closing value on Monday.
Motive, which has around 300 employees and operates in Austin, Texas and Bangalore, India, has worked with Alcatel Lucent for the past three years, to provide remote management software designed to support home networking devices known as residential gateways. Joint customers include AT&T, Verizon, and BT Group.
Source:
http://www.teleclick.ca/2008/06/alcatel-lucent-to-purchase-motive-inc-for-678-million
