Permira: No love for ALU Enterprise, just Genesys


The Alcatel-Lucent Enterprise bidding saga continues

The latest report from Bloomberg puts a damper on the whole deal:

Permira, which had been in exclusive talks to buy the enterprise unit, is now in non-exclusive talks for Genesys, the part of the unit that makes software for managing customer call centers, a person with direct knowledge of the talks said on Sept. 2. Permira is a London-based buyout fund. Alcatel-Lucent fell as much as 7.7 percent, after dropping 4.1 percent Sept. 2.

Talk about prolonging the agony.

Alcatel-Lucent wants money for selling its Enterprise business — in the neighborhood of $1 billion.

Nobody’s interested now except Permira but just the Genesys piece, which is unlikely to fetch that dollar amount for ALU.

At this point it’s all a mess. ALU isn’t getting what it hoped for and perhaps neither will Permira. Nobody is happy and everyone’s a loser… ALU shareholders are watching their equity vaporize before their eyes, ALU Enterprise folks are feeling abandoned, Genesys employees (and customers) face an uncertain future, and Permira may never prospect for a telecom deal again.

Oh, did anyone notice the rumors of Europocalypse growing louder and more depressing economic data coming from the U.S?

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