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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: X Y Zebra who wrote (6870)	3/29/1999 11:37:00 AM
From: AnnaInVA	Read Replies (1) \| Respond to of 21876

Did I read correctly that LU might split on April 1 ? thank you, anna

To: X Y Zebra who wrote (6870)	3/29/1999 1:26:00 PM
From: Haim R. Branisteanu	Respond to of 21876

US Co Acquires Libit for $250 Mln By Eliav Allalouf and Ella Jacoby Israeli start-up Libit Signal Processing is being sold to a US company for $250 million. Libit engages in the development of silicon broadband Internet access for televisions. Its products are designed for cable modems, converter boxes and digital televisions, and enable fast data transmission of multimedia applications, Internet telephony and Internet access. The purchaser is apparently Lucent, the world's largest communications equipment company for telephony companies. Libit, founded in 1994, will be able to assist the purchaser in competing with BroadCom in the field of cable network communications modems. Estimates say that Libit has the best technological solution. Lucent, which needs to strengthen its position in the data transmissions field, can use Libit's technology to continue to try and create a complete basket of products for future communications needs. It was recently learned that Libit rejected an offer by Intel to acquire it for $100-$120 million. Intel, which is mainly engaged in PC chips, is expanding its activities in tangential fields, mainly in the rapidly growing communications field. Libit raised $6 million in June 1998, on the basis of a company valuation of $74 million after money. Investors include Giza Investment Fund, Discount Investments, and GE Capital of the General Electric group. According to original plans, the company was expected to issue its shares for trading on NASDAQ in the year 2000. Discount Investments and PEC hold 8.2% of the company's shares. Giza hold 7%, and GE Capital - 2.9%. The company's founders and controlling shareholders are Ehud Weinstein (21.2%), Mordechai Segal (18.6%) and Ofer Shalvi (13.2%). Intel holds 5.9% of company shares. Published by Israel's Business Arena March 29, 1999