Scientific-Atlanta, a maker of cable set-top boxes, announced Monday that it plans to acquire BarcoNet NV in a stock deal worth $154 million. BarcoNet NV makes equipment for cable, telecommunications and wireless operators in Europe and Asia. Scientific-Atlanta said that 40 percent of BarcoNet's shareholders have agreed to sell their shares, and the companies expect the deal to close this December.
Scientific-Atlanta expects the deal to add to its earnings in fiscal 2003. Belgium-based BarcoNet generated revenue of $98 million in the 12 months ended June 30, 2001.