Alcatel-Lucent in financing talks with Goldman Sachs: report

Alcatel-Lucent in financing talks with Goldman Sachs: report

Summary: After an abysmal quarter, posting a loss and warning that the telecoms equipment maker may have to sell off assets, the firm is reportedly in financing talks with Goldman Sachs.

TOPICS: Telcos

Alcatel-Lucent is in talks with Goldman Sachs in a bid to secure a loan deal to stave off further unprofitability, Bloomberg reports, citing a number of people familiar with the discussions.

According to the report, the New York-based investment bank would finance the ailing telecoms giant in return for offering some of its assets as collateral. The deal is yet to be finalized, however. 

Earlier this month when the Paris-based firm announced its third quarter results, Alcatel-Lucent's chief financial officer warned that it may have to sell off assets to strengthen its finances, along with cutting 5,500 jobs worldwide. The firm's cash balance stood at €4.7 billion ($6.05bn) after burning through €1.03 billion ($1.33bn) in the first nine months up to the end of September. 

The firm is exploring the possibility of selling off certain assets, such as the fiber-optic cable manufacturing division and the firm's enterprise unit, which offers telecoms equipment to businesses. Alcatel-Lucent already supplies technology to a range of cellular networks, including AT&T, Verizon, and France Telecom. 

Another possibility for the ailing firm is to sell off its 29,000-strong patent collection, including voice-recognition and video conferencing While a patent sell-off or licensing agreement may not deliver any more than a few hundred million euros, it would be enough to stabilize the firm in the short term.

The company's balance sheet looks anything but healthy as a result of increased European competition from Finland-based Nokia Siemens Networks and Sweden-based Ericsson. Only Ericsson is holding the fort in the European telecoms equipment-making sector, as Nokia's telecoms arm is looking for a potential buyer in hope they can rescue the firm. 

Topic: Telcos

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  • Classification of SQL injection attacks over IT- Industry (Abdullah raza)

    Classification of SQL Injection Attack over IT web Industry

    SQL injection attacks are becoming significantly more popular amongst hackers, according to recent data. Between Q1 2012 and Q2 2012, there has been an estimated 69 percent increase of this attack type.
    The latest numbers come from secure cloud hosting company Fire Host, which blocks various types of attacks that are attempting to harm its clients' Web applications and databases hosted at the firm's Pakistan, USA, and Europe. And India data centers. The company has broken down its findings into four different attack types which it considers as being the most malicious and dangerous: Cross-site Scripting (XSS), Directory Traversals, SQL Injections, and Cross-site Request Forgery (CSRF).
    Here's where the 69 percent number for SQL injection attacks comes in: Fire host has seen a rise from 277,770 blocked attacks in the first quarter to 469,983 in the second quarter. The company also notes this attack type is frequently cited as an attack vector of choice for data thieves.
    For the uninitiated, SQL injection involves the entering of malicious commands into URLs and text fields on vulnerable websites. The goal is to steal the contents of databases and then use that information for further crime.
    SQL injection attacks have been associated with many high profile data breaches, such as when LulzSec hacked Sony in 2012. The data is from this year, however, so what gives? Well, the method is also often used by hackers to steal user account credentials such as e-mail addresses and passwords.
    In the last few months, there have been a slew of attacks against the following sites: LinkedIn, eHarmony,, Yahoo, Android Forums, Billabong, Form spring, Nvidia, and Gamigo, among others. I doubt they were all SQL injection attacks, but I wouldn't be surprised if many were.
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