Lucent Sells Software Unit for $300m

CSG buys Lucent's billing and customer care assets for about $300 million in cash

December 22, 2001

1 Min Read

CSG Systems International, Inc., a leading provider of customer care and billing (CC&B) solutions for converging communications companies (NASDAQ: CSGS), today announced it has reached an agreement to acquire the billing and customer care assets of Lucent Technologies (NYSE: LU) for approximately $300 million in cash. In addition, Lucent and CSG Systems have also entered into a supply agreement to provide Lucent with billing and customer care software for its networking solutions.

Lucent's billing and customer care (BCC) business consists primarily of software products and related consulting services acquired by Lucent when it purchased Kenan Systems Corporation in February 1999. The group is the world's leading provider of telecommunications billing software licenses according to industry analyst firm International Data Corporation.

"Our billing and customer care group is a leading business, but it is not part of the core networking infrastructure and professional services that Lucent is investing in going forward," said Bill O'Shea, executive vice president, Corporate Strategy and Marketing for Lucent. "As part of CSG Systems, we believe the BCC business will be able to better serve its customers and fortify its position as the leading provider of billing and customer care software solutions. Meanwhile, Lucent will be able to focus its own investments and resources on the solutions our customers are asking from us."

Lucent Technologies Inc. (NYSE: LU)

Read more about:

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like