Alcatel-Lucent Unit Gets Part of Five-Year U.S. Army Contract
Alcatel-Lucent SA (ALU)’s LGS Innovations LLC unit, which sells to the U.S. military, said it won part of a five-year contract to provide the army with telecommunications network equipment and services.
LGS, which gets most of its revenue from phone companies including AT&T Inc. and Orange SA (ORA), is one of the companies sharing the order, the unit of Paris-based Alcatel-Lucent said in a statement today. Lockheed Martin Corp., AT&T Government Solutions Inc. and Harris Corp. (HRS) said in separate releases this month that they won part of the $4.1 billion order. A total of 12 companies are sharing the contract, according to the Department of Defense.
Alcatel-Lucent, led by Chief Executive Officer Michel Combes, pared earlier losses of as much as 5.1 percent, trading down 1.7 percent at 2.52 euros as of 5:21 p.m. in Paris. The company has a market value of 5.9 billion euros ($8.1 billion).
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