Scientific-Atlanta to acquire BarcoNet

US-based Scientific-Atlanta Inc (NYSE: SFA) has announced that it has signed agreements to purchase BarcoNet NV (Euronext Brussels: BARN), a leading provider of end-to-end distribution solutions for broadband and broadcast applications throughout Europe and Asia headquartered near Brussels. Under the terms of the acquisition, Scientific-Atlanta, which is active in broadband and interactive telecommunications, will launch a public tender offer for al outstanding common stock of BarcoNet at a price of Euro 5.70 per share in cash, together with all outstanding options, warrants and convertible securities, for an aggregate value of approximately Euro 173m. In connection with the offer, GIMV has agreed to sell its 28% stake in BarcoNet for an amount of Euro 47.3m, yielding a capital gain of more than Euro 33.1m. With the split of BarcoNet last year, GIMV, as shareholder of Barco, received 8,296,568 shares in BarcoNet, with a book value amounting to Euro 14.2m.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Benelux