Alcatel today announced that it has entered into a definitive agreement to acquire privately-held Astral Point Communications Inc. (Chelmsford, MA), manufacturer of next-generation SONET metro optical systems.
Per the agreement, Alcatel Class A ADSs (American Depositary Shares), representing 9.0 million Alcatel Class A shares, will be exchanged for the capital stock of Astral Point. Based on the closing price in Paris on January 21, 2002, the transaction has an implied value of Euro 153 million.
Among other criteria, Alcatel based its price assessment upon the quality of Astral Point's product portfolio, management team and business, as well as recent comparable transactions. Completion of this transaction is subject to approval by Astral Point's shareholders and other customary closing conditions. The transaction is expected to close by the end of the first quarter. Once the acquisition is completed, Astral Point will join the optics activities of Alcatel USA.
For more information about Alcatel (Paris) visit the company's Web site at www.alcatel.com.