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14 May 2007
Alcatel-Lucent has announced a definitive agreement to acquire privately held NetDevices, a California-based developer of services gateway products for enterprise branch networks.
Seenu Banda, founder and chief executive at NetDevices, said: " Alcatel-Lucent provides an ideal partnership with its global sales, service, and the development capabilities."
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 located in Sunnyvale, California and Bangalore, India.
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