AT&T sells program management unit

AT&T Corp. has sold its subsidiary Management Consulting & Research LLC to Lau Technologies for an undisclosed amount.

MCR provides program management support to the Defense Department and has been a wholly owned subsidiary of Bedminster, N.J.-based AT&T since 2000.

Lau of Littleton, Mass., provides consulting services and debt and equity financing to middle-market companies providing services to the government. MCR's management also will have a 50 percent stake in the company.

"Although we have had a successful association with AT&T, this acquisition will permit us to be more flexible and responsive to our customers' demands, in an industry comprised primarily of small, privately-held consulting firms," said Neil Albert, president and chief executive officer of MCR.

The McLean, Va.-based company plans to expand beyond is Defense Department base, Albert said. The company has about 300 employees.