Alcatel-Lucent has announced a definitive agreement to acquire privately held NetDevices, a California-based developer of services gateway products for enterprise branch networks.
"Alcatel-Lucent provides an ideal partnership with its global sales, service, and the development capabilities," said NetDevices founder and chief executive, Seenu Banda.
On close of the transaction, the NetDevices team and products will be integrated into Alcatel-Lucent's Enterprise Business Group, reporting into Tom Burns, president of Alcatel-Lucent's Enterprise Solutions activities.
The acquisition is subject to various standard closing conditions, including applicable regulatory approvals, and is expected to close in the second quarter of Alcatel-Lucent's fiscal 2007. Terms of the deal were not disclosed.
NetDevices was founded in 2003 and has 45 employees spread over two offices located in Sunnyvale, California in the US and Bangalore in India.
Alcatel-Lucent to acquire NetDevices
By Robert Jaques on May 15, 2007 11:55AM