Madison Dearborn, CoVant Finalize $200M LGS Innovations Purchase

LGSInnovationsMadison Dearborn Partners and CoVant investor group has finalized its purchase of LGS Innovations from Alcatel-Lucent (NYSE: ALU) for $200 million.

Alcatel-Lucent has sold LGS as part of an initiative to raise more than $1.4 billion by the end of 2015 through asset divestitures, Alcatel-Lucent said Tuesday.

Half of the acquisition amount will be paid when the transaction closes and an additional 50 percent component will be calculated based on LGS’ fiscal 2014 financial results.

LGS provides networking, satellite communications and optical routers services to U.S. government and research customers.

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