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NEW YORK – Alcatel-Lucent said Tuesday it will buy broadband service management software provider Motive Inc. in a deal the French telecommunications company valued at $67.8 million.

The purchase price of $2.23 per share works out to a premium of nearly 53 percent over Motive’s closing price Monday. Motive stock trades on the over-the-counter Pink Sheets.

Austin, Texas-based Motive has 300 employees, with operations in Austin and Bangalore, India.

Alcatel-Lucent and Motive have worked together for three years to offer remote-management software designed to support home networking devices known as residential gateways. Their joint customers include AT&T Inc., Verizon Communications Inc. and BT Group PLC.
Source CNBC