Scientific-Atlanta Inc. said it has completed its tender offer for Belgian
cable-equipment maker BarcoNet NV.
In a press release Monday, S-A said 92.4 percent of shares, 99.4 percent of
warrants and all of the convertible bonds of BarcoNet had been offered.
S-A said it will purchase the tendered securities for $142 million in cash
Jan. 3.
The company added that the offering will reopen from Jan. 14 through Feb. 1.
If it is successful in acquiring at least 95 percent of BarcoNet shares, it will
acquire all of the remaining securities, as well.
The deal is expected to be closed in S-A's third fiscal quarter, which ends
March 31.
S-A first announced the BarcoNet deal in November. The acquisition
will give the vendor a foothold in the European market.
Based in Brussels, Belgium, BarcoNet has about 20 offices worldwide, and it
has built up a significant business in the European and Asian digital and
broadcast markets.
The company's product lineup includes digital headends, backbone-network
gear, network-monitoring systems and video- and audio-distribution
technology.
