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Scientific-Atlanta is determined to beat the slowdown back home by making its presence felt in other markets.
Its purchase of Belgium company BarcoNet NV is a step in this direction. BarcoNet is a leading provider of multimedia distribution solutions for broadband and broadcast applications. Focussing on internet-over-cable and other interactive digital services, BarcoNet‘s customers include the world‘s largest broadband operators, in cable as well as terrestrial, telecom, satellite or wireless applications.
Scientific-Atlanta, the leading supplier of digital content distribution systems as well as transmission networks for broadband access to homes, will launch a public tender offer for the outstanding common stock of BarcoNet at a price of ?5.70 per share in cash, together with all outstanding options, warrants and convertible securities, for an aggregate value of approximately US $ 154 million. The deal is expected to close next month. BarcoNet generated 98 million dollars in revenues for the year ended June 30, 2001.
BarcoNet distributes digital television manafactures headends for integrated multimedia services as well as high-speed digital fiber optic backbones. The company brings to the Scientific-Atlanta stables extensive customer relationships, strong product portfolios and local market knowledge. In turn, it will leverage the scale that Scientific-Atlanta brings in sales, engineering and support.
