Alcatel agrees to sell LGS Innovations unit

PARIS Fri Dec 20, 2013 3:14am EST

PARIS Dec 20 (Reuters) - Telecoms equipment maker Alcatel-Lucent said on Friday it had agreed to sell its secure networking and satellite communications unit LGS Innovations LLC to an investor group led by private equity firm Madison Dearborn for up to $200 million.

The closing of the cash transaction between Alcatel-Lucent and the group of investors, which also includes the CoVant holding company, is expected to take place in the first quarter of 2014, the statement said.