Al­ca­tel-lu­cent Shifts Ge­nesys Busi­ness for $1.5 bn

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Al­ca­tel-lu­cent has trans­ferred its Ge­nesys busi­ness to Per­mira Funds and Tech­nol­ogy Cross­over Ven­tures, for a cash pay­ment of $1.5 bn. The agree­ment in­cludes the trans­fer of ap­prox­i­mately 1,800 em­ploy­ees world­wide, the man­age­ment team, and the ex­ist­ing busi­ness struc­ture of Ge­nesys, to en­sure that the com­pany con­tin­ues to serve its cus­tomers and other stake­hold­ers. The trans­ac­tion has closed af­ter ALU re­ceived a bind­ing of­fer from Per­mira and has fol­lowed the com­ple­tion of reg­u­la­tory ap­provals and con­sul­ta­tions in var­i­ous coun­tries, in­clud­ing a re­view by the Com­mit­tee on For­eign In­vest­ment in the United States and the French Min­istry of Econ­omy and Fi­nance.

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