Alcatel-Lucent Canada Inc. will probably sell some or all of its 15 per cent stake in Bridgewater Systems Corp.
Ottawa-based Alcatel-Lucent Canada occupies space formerly held by Newbridge Networks Corp., which was founded by Mitel CEO Terry Matthews in 1986 and acquired by Paris-based Alcatel in 2000. Alcatel merged with Murray Hill, N.J.-based Lucent in 2006.
A lock-up agreement, which prevented Alcatel-Lucent Canada from selling its Bridgewater shares, expired Dec. 15. The company said last month it “expects that, under appropriate circumstances and on appropriate terms, it will dispose of some or all of these shares.”
Bridgewater, which is also based in Ottawa, supplies subscriber data management and network access control products for carriers. Its customers include American WiMAX provider Xohm, which is owned by Clearwire.
In a press release, the Alcatel-Lucent Canada stated the sales “could occur in the market, in private agreement transactions or otherwise.”
Alcatel-Lucent had already owned part of Bridgewater before the company’s stock went public two years ago.