Madison Dearborn and CoVant Complete $200M LGS Carveout
April 03, 2014
Madison Dearborn Partners and CoVant have completed the acquisition of LGS Innovations from Alcatel-Lucent (NYSE: ALU). With U.S. national security, defense and research entities as its primary customers, LGS Innovations builds advanced wireless, optical and wired products and applications customized for specific mission environments. The cash transaction comprises a total amount of up to $200 million, of which 50% was paid at closing, with the other half forming a subsequent variable component determined by LGS Innovations' results from operations during the 2014 fiscal term.