Voice and data network company Alcatel, listed on the New York and Paris stock exchanges, has entered into a definitive agreement to acquire Genesys Telecommunications Laboratories for about $1.5 billion.
Genesys is a Nasdaq-listed provider of computer telephony integration and enterprise interaction management solutions.
The planned stock-for-stock transaction value is calculated on the basis of the current 10-day average Alcatel American Depositary Shares (ADS) stock price of $28.
The acquisition will be made in terms of a merger under which Genesys shareholders will be given 1.667 Alcatel ADS in exchange for one Genesys share.
The Alcatel ADS is a US security that represents one-fifth of an Alcatel share and is listed on the New York Stock Exchange.
The deal, expected to be completed in January, is subject to the expiry or termination of applicable waiting periods under appropriate anti-trust laws and approval by Genesys shareholders.
"This is another major step for Alcatel which continues to move fast towards high growth markets fuelled by Internet and now e-commerce," says Alcatel chairman and CEO Serge Tchuruk.
"In the European enterprise market, where Alcatel is expanding its voice leadership position into the data field, the combination with Genesys state-of-the-art software-based interaction management technology, will put us in an ideal position to participate strongly in the high growth call centre market.
"In the worldwide carrier and ISP markets, where Alcatel has become a major player in Intelligent Network applications, the synergy with Genesys will enhance the development of powerful end-to-end networked customer contact solutions, that carriers and ISPs will offer to their enterprise clients."
Genesys will remain a standalone business within the Alcatel group and will retain its name and continue to be headquartered in San Francisco, California.
Ori Sasson will remain CEO and the company will continue to pursue an infrastructure-independent, media-independent strategy, it says.
South African spokesmen could not be reached for comment on Wednesday morning.
On Tuesday Alcatel`s share in Paris closed 2.6% down at 126 euros, while Genesys closed 9.5% up at $44.75 on Nasdaq.
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