Alcatel Unit Goes Platinum

Platinum Equity acquires Alcatel's European enterprise distribution operations

April 10, 2002

1 Min Read

LOS ANGELES and PARIS -- Platinum Equity, LLC, a leading private buyout firm focused on acquiring and growing technology companies, acquired the EURO 1.5 billion (US$1.3 billion) European operations of Alcatel's (Paris:CGEP.PA) (NYSE:ALA - news) enterprise distribution and services business. The European business provides geographic and service complements to NextiraOne, one of Platinum's 24 wholly-owned companies. NextiraOne is a U.S.-based company providing network services and solutions of voice, data and converged technology to enterprises throughout North America. Together, these two businesses will serve a worldwide customer base with premier voice and data convergence solutions. Additional terms of the acquisition are not disclosed.In a separate release:Platinum Equity, LLC, a leading private buyout firm focused on acquiring and growing technology companies, announces NextiraOne as the new name of the acquired European operations of Alcatel's (Paris: CGEP.PA) (NYSE:ALA - news) enterprise distribution and services business. In choosing the NextiraOne name, Platinum Equity is leveraging the strengths of its North American NextiraOne network services business based in Houston, Texas. The European NextiraOne business provides geographic and service complements to its North American partner by providing network services and solutions of voice, data and converged technology to enterprises throughout the world. Phil Norment, Platinum Equity chief operating officer and acting NextiraOne (Europe) chief executive officer said, "We are set to broaden the focus of NextiraOne and shift the business from a pure product approach to a solutions orientation in the developing voice, data and convergence services market. While we are enthusiastic about the potential of the expanded geographical footprint of NextiraOne, we remain committed to the continuity of daily business, as well." Alcatel SA Platinum Equity LLC

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