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Technology Stocks : Lightbridge (LTBG)

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To: jjrocket who wrote (195)	10/26/2000 10:44:28 PM
From: jjrocket	of 202

Lightbridge to buy Corsair in $165 mln stock deal biz.yahoo.com BURLINGTON, Mass., Oct 26 (Reuters) - Lightbridge Inc. (NasdaqNM:LTBG - news), a provider of customer relationship management services for telecommunications companies, said on Thursday it would buy Corsair Communications Inc. (NasdaqNM:CAIR - news) in a $165 million stock deal. The company said in a statement that they had signed a definitive agreement. Corsair, based in Palo Alto, Calif., provides pre-paid billing systems for wireless phone companies. The transaction is valued at about $165 million, based on Corsair's closing stock price on Wednesday. The merged company would operate under the Lightbridge name and Nasdaq symbol. Lightbridge would issue 0.5978 share of its common stock for each common share of Corsair stock. Lightbridge would issue about 10.5 million shares. The transaction is expected to close in the first quarter of 2001 and would be accounted for as a pooling of interest. Corsair shareholders would own about 36.5 percent of the merged comany, and the transaction is expected to add to Lightbridge earnings, the statement said. Lightbridge shares were off $2 at $13-5/8. Corsair stock was up 1/2 at $7-7/16.

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