Fergie's Tech Blog

Thales to Buy Alcatel Satellite and Security Units

In a move that keeps French military technologies in French hands, the defense electronics company Thales on Wednesday announced plans to purchase satellite and security businesses from Alcatel for a mix of cash and shares worth about €1.7 billion.

Alcatel, whose main business is telecommunications equipment, is selling the units for the equivalent of $2 billion after agreeing to merge with Lucent, its U.S. rival. Lucent already has taken separate steps to ensure that classified research it conducts at its Bell Labs center is shielded from foreign eyes following similar concerns about security in the United States.

posted by Fergie @ 4/05/2006 06:39:00 PM