Alcatel-Lucent to acquire Motive Inc

Jun 17, 2008 (TELECOMWORLDWIRE via COMTEX) -- MOTV | Quote | Chart | News | PowerRating -- Alcatel-Lucent (NYSE: ALU | Quote | Chart | News | PowerRating) (Alcatel) today (17 June) announced that it has entered into an agreement to acquire Motive Inc (OTC: MOTV), a provider of service management software for broadband and mobile data services.

Alcatel has made a cash tender offer for all outstanding Motive shares at a price of USD2.23 per share, representing a value of approximately USD 67.8 million.

The offer, which values the shares at USD2.23 each, represents a premium of around 53% over the 16 June closing price, and is around 51% higher than the average share price for the 90 days to 16 June. Closing date for the transaction is expected to be early in the fourth quarter of 2008.

Alcatel and Motive have been working together for three years, developing and marketing remote management solutions for automating the deployment of residential gateways. The two companies have over 40 joint customers. Alcatel has also been reselling Motive's service integration products.

The acquisition will be a two-stage process, with the cash tender offer being followed by a merger of Motive into Alcatel as a subsidiary.

There are several conditions that must be satisfied before the acquisition can be completed, including final settlement of outstanding litigation against Motive.

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