09/07/2006
Alcatel (Profile) shareholders on Thursday approved the French telecoms equipment provider’s all-share acquisition of U.S. rival Lucent (Profile), putting an end to weeks of debates about the deal’s merits.
The merger will turn the pair into one of the world’s leading suppliers of network hardware and software for mobile communications, high-speed Internet and TV broadcasting over ADSL phone lines.
Shareholders voted at the annual and extraordinary general meeting in favor of the deal by more than 85 percent of the votes of the motions related to the merger.
I am sorry to say that Lucent and Alcatel’s shares have lost more than 25 percent since they announced the merger proposal in early April.
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07/31/2006
Pitney Bowes Inc.(
Profile) has agreed to purchase Print Inc.(
Profile), provider of bundled offerings of printer supplies, service and equipment to manage document production, for $47 million, and will integrate Print Inc.’s operations into a wholly owned subsidiary of the company, Pitney Bowes Direct.
According to Pitney Bowes, the deal will help the company add value to another, key aspect of the mail stream. “Managing the printing of documents is a key activity involved in the production of effective mail and documents. Yet, as important as it is, most businesses rely on an array of separate vendors to provide printer equipment, printer supplies such as paper, ink and toner, and maintenance and repair services for their printer fleet,” says Michael J. Critelli, Chairman and CEO of Pitney Bowes, in a statement.
Print Inc. generated approximately $49 million in revenue in ‘05 by working with small- to mid-size customers in a variety of verticals.
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Ziff Davis Holdings(Profile) has decided to sell Ziff Davis Media, publishers of PC Magazine and Baseline, as well as a variety of online, tech-focused products.
The company has retained Evercore Partners and Lehman Brothers as financial advisors to assist in the sale. Private equity firm Willis Stein & Partners, which bought the magazine assets of Ziff Davis in 1999 for $780 million in cash, will likely take a loss in a sale.
Ziff Davis Holdings announced growth of 84.7 percent in Q2, compared to the second quarter last year. Online revenue jumped 49 percent and print revenue fell 6 percent.
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