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Friday June 16, 2000

Lucent to buy Israel firm

JERUSALEM (JPS) -- Lucent Technologies Inc., a research and development arm of Bell Laboratories in New Jersey, agreed last week
Lucent said it will pay 78 million of its shares worth approximately $4.5 billion, based on Tuesday's closing stock price -- for

It is estimated that Petruschka and Gidron each own about 15 percent of the company, meaning that they will realize some $1.35 billion apiece as a result of the sale. Neither Petruschka nor Gidron would respond to calls from the press for comment.

After Petruschka and Gidron, the biggest winner appears to be Jerusalem Venture Partners, a venture-capital firm that had invested close to $10 million dollars in Chromatis in its early years.

Other investors in the company's two rounds of venture-capital financing include Chase Capital Partners, Crosspoint, ComVentures, Soros Private Equity, Eucalyptus Ventures, and Anschutz Capital.

Chromatis was founded in 1988 in Petach Tikvah, where the company still maintains its research and development facility. The corporate headquarters are located in the Washington, D.C., suburb of Herndon, Va.

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