Alcatel's direct business unit buys itself out

Alcatel's direct business unit buys itself out

The management of Alcatel's direct-to-enterprise sales arm has bought itself out in a deal brokered with listed technology company Utility Service Corporation (USC).

Under the terms of the agreement, USC will provide $1.5 million in working capital to allow the management of Alcatel's e-Business Distribution unit to transfer ownership of the business from Alcatel to a new jointly owned holding company.

Former Alcatel management and USC will each hold a 50 per cent stake in the new entity. The company will continue to operate as e-Business Distribution, an integrator of converged voice and data networks, until a new name is decided.

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