COB (French stock exchange regulatory body) documentation - in French only
Paris, April 30, 2003 - Alcatel (Paris: CGEP.PA and NYSE: ALA), the world leader in broadband access networking, today announced that, after finalizing all customary closing procedures, the acquisition of common shares of iMagicTV pursuant to a statutory plan of arrangement under Canadian law, has been completed. iMagicTV, with headquarters in Canada, was a publicly listed supplier of software products that enable service providers to create, deliver and manage digital television and rich media services over broadband networks.
The final exchange ratio used to exchange iMagicTV shares for Alcatel ADS (American Depositary Shares) shares was 0.158517 which equates to a value of US$1.30 per iMagicTV share. Alcatel acquired 20,826,362 of common shares, representing 84% of the capital. Alcatel now holds 100% of iMagicTV's capital.
As the world market leader in DSL, Alcatel is committed to solutions that further boost broadband growth across the globe. A significant part of this growth will come from value added services, examples of which are audiovisual entertainment, home security, online gaming, tele-learning and commerce. Through this acquisition, Alcatel is able to immediately extend its leadership in broadband access solutions and leverage a world class, ready-to-deploy solution for triple play (TV, Internet and Telephone) broadband services.
iMagicTV's product line provides a reliable and proven path for IP-based service providers towards delivering profitable media services. iMagic will also provide an unmatched depth of field proven back-end service provisioning capabilities, the stability of which is critical for service providers.
iMagicTV will now operate under the Alcatel name and its Media Manager product will be marketed under the name Alcatel 5950 Media Manager. iMagicTV will benefit from Alcatel's leading position in ADSL, its strong customer and partner relationships, infrastructure and routes to market. The iMagicTV portfolio will find a worldwide channel alongside Alcatel's broadband portfolio for IP video solutions.
Through this acquisition, iMagicTV joins Alcatel Canada. | |
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