I think this is another spin off from the Stratus acquisition...
Platinum Equity Acquires Fault-Tolerant, Computing Hardware and Software Business From Lucent Technologies
Acquisition Expands Platinum's Hardware and Software Skills Set
Enables Lucent To Focus on Core Elements of Next Generation Networks
LOS ANGELES--(BUSINESS WIRE)--May 1, 2002-- Platinum Equity, LLC, a leading private buyout firm focused on acquiring and growing mission-critical technology companies, today announced that it has acquired the distributed network control platform (DNCP) business from Lucent Technologies (NYSE: LU - news). DNCP is a leading provider of fault-tolerant, computing hardware and software platforms that support network operations, management applications and advanced signaling applications in the telecommunications industry.
As a strategic buyer of the business, Platinum significantly enhances its skills set in hardware and software with the acquisition of DNCP's superior fault-tolerant solutions, which are known for maintaining 99.999% uptime on telecom networks and ensuring virtually no loss of data. Additionally, DNCP's established customer base, deep relationships with vendors, and best-in-class service and support extend Platinum's capabilities in the technology sector, providing additional opportunities for growth among its other portfolio companies in the market space. Lucent's decision to sell DNCP was part of its strategy to focus its business on other core infrastructure elements and professional services for the world's largest network service providers.
DNCP has been building fault-tolerant computing solutions for more than 20 years, longer than any other competitor, and has developed specialized technologies for solving telecommunications customers' mission-critical needs. DNCP currently has more than 400 DNCP systems deployed worldwide running applications for over 30 wireless and wireline service providers.
The business, which will be re-named at a later date, supports essential network management systems that maintain continuous operation of communication networks as well as third party applications such as caller ID, number portability, prepaid calling and other location-based services. The DNCP business features an industry-leading SS7 signaling system that is able to complete message transfers in less than half the time of comparable systems and is also notable for a support staff often able to diagnose a problem before the customer is aware it exists.
Under the terms of a separate supplier agreement, Lucent Technologies will continue to use DNCP platforms as part of its networking solutions for service providers.
"The DNCP business is an ideal complement to other companies in our growing technology and communications portfolio," commented John Diggins, executive vice president of Platinum. "With this acquisition, Platinum will increase its international Fortune 1000 customer base, gain world-class technical service and support capabilities, and add very talented staff."
"This is the latest in a series of moves Lucent has made as it restructures its business. The DNCP product line can become a key addition to Platinum's portfolio, but it is not a part of the systems we are investing in for the future of Lucent," said Ron de Lange, vice president and general manager of Lucent's OpeNet Solutions. "We will continue to have access to these platforms through a supplier agreement, while focusing our investments on the core infrastructure and professional services that our large service provider customers need."
The DNCP Platforms business is based in Marlboro, Mass. and will operate as a stand-alone company.
About Platinum
Platinum Equity (www.peh.com) is one of the largest and fastest-growing private buyout firms in the United States, specializing in the acquisition and operation of global, mission-critical technology companies. Since the company's founding in 1995, Platinum has completed nearly 40 transactions of global, mission-critical companies with leading Fortune 500 Corporations including Williams Communications, Motorola, Staples, Fujitsu, WorldCom, AT&T and IBM. Today, Platinum Equity has a multi-billion dollar revenue base, an established infrastructure in North America, Europe, Asia and South America and a workforce of more than 15,000 employees serving more than 500,000 customers throughout the world. Platinum Equity was recently ranked by Forbes magazine as the 75th largest private company in the United States.
About Lucent Technologies
Lucent Technologies, headquartered in Murray Hill, N.J., USA, designs and delivers networks for the world's largest communications service providers. Backed by Bell Labs research and development, Lucent relies on its strengths in mobility, optical, data and voice networking technologies as well as software and services to develop next-generation networks. The company's systems, services and software are designed to help customers quickly deploy and better manage their networks and create new, revenue-generating services that help businesses and consumers. For more information on Lucent Technologies, visit its Web site at lucent.com. |
