Alcatel Completes Microelectronics Sale to STM

June 26, 2002 by Jeff Shepard

STMicroelectronics Inc. (STM, Geneva, Switzerland) and Alcatel Microelectronics (Belgium) announced, after receiving approval from the European and US anti-trust authorities, the completion of the acquisition of Alcatel Microelectronics by STMicroelectronics.

As part of this cash transaction of Euro 390 million, the two companies are entering into a cooperation for the joint development of DSL chip-sets that will also be made available to the open market. The agreement will also make STMicroelectronics a preferred supplier of Alcatel, thus expanding their long-standing strategic alliance.