CSG to Acquire Lucent Assets12/22/2001 4:18 PM Eastern
CSG Systems International Inc., a leading biller to the cable industry whose
customers include AT&T Broadband, announced Saturday it will acquire the
billing and customer care assets of Lucent Technologies.
CSG set the cost of the transaction at $300 million.
The deal consists primarily of software assets Lucent purchased in 1999 from
Kenan Systems Corp. of Canada.
According to the analyst firm International Data Corp., the Lucent group is
the leading provider of telecommunications billing software licenses in the
Neal Hansen, chairman and CEO of CSG, said in a prepared statement his firm's
strong balance sheet will allow it to make the acquisition without issuing new
On news of the acquisition, CSG revised its financial guidance figures.
It had projected $480 to $510 million in revenues for 2002; that has been
changed to $660 to $690 in revenues, based on the acquisition.
The companies will provide details of the deal in a conference call Dec.