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Alcatel snaps up Newbridge

Deal announced tomorrow, FT says

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Newbridge, the troubled networking infrastructure firm that has not been for sale for as long as we can remember, is to succumb to the advances of Alcatel. According to FT.com, the $6.5 billion deal could be announced as soon as late Tuesday. It looks like a good home: Alcatel, the huge French telecoms equipment manufacturer, is already a player in datacoms, but very much a second division player. With Newbridge it gains scale: Newbridge, hamstrung by a series of poor results, gains breathing space, and a rich parent. It will be interesting to see how well Alcatel has learned the lessons of its previous big North American acquisition. (telecoms equipment maker SC Communications in June 1998). An Alcatel profits warning shortly after that transaction resulted in a big class action by disgruntled former DSC shareholders. ®

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