Alcatel to Buy Lucent in Merger
2nd Apr 2006, 20:01 GMT
Alcatel SA and Lucent Technologies Inc. have announced today a merger between the two telecommunications equipment makers in which France based Alcatel will purchase US based Lucent in order to form a major new competitor to telecommunications industry giant Cisco Systems Inc. The new company, whose name will be decided at a later date, will be headed by the current Lucent CEO Patricia Russo. It will be based in Paris and will have estimated annual sales of $25 billion while providing $1.7 billion in total savings within 3 years. Of course as with most corporate mergers there are talks of job cuts and this merger is no different. Initial plans indicate that approximately 10 percent (roughly 8,800) will be cut from the total combined roster of about 88,000 employees and will include cuts from both Alcatel and Lucent. View: Alcatel Announcement View: Lucent Announcement News source: JournalNow.com / Associated Press Read full story...
Alcatel to Buy Lucent in Merger related news:
- Alcatel says still in talks on Lucent merger — Reuters: Business
- Alcatel says still in talks on Lucent merger (Reuters) — Yahoo! News: Business
- Alcatel, Lucent Announce Merger — WSJ.com: What's News Europe
- Lucent - Alcatel Merger Hits A Political Snag — Systems Management Pipeline
- Lucent-Alcatel Merger Concerns Groups — www.heraldsun.com
- Alcatel and Lucent Set to Seal Merger — RedOrbit News - Technology
- Alcatel-Lucent Merger Delayed — FOXNews.com - Business
- Still no deal on proposed Alcatel-Lucent merger — KLTV - Local News
- Yankee Group Expects Alcatel/Lucent Merger Will Accelerate Market Consolidation — Industry Analyst Reporter - Networks and Telecom News
- Alcatel-Lucent merger said imminent, Thales deal up in air — AFP - Wire stories
Latest news from Neowin.net:
- Microsoft to Add Wireless Video Sharing to the Zune
- Office 2007 System now available on MSDN
- "BlackBerry Thumb" sparks new form of hand massage
- IEEE Plans Safer Laptop Batteries
- Sun opens Java
- CompUSA to Sell Vista, Office 2007 Ahead of General Release
- Nvidia Readies 5 new GPU's?
- PowerUser.TV e59: Voting machines, Wii bundle and more!
- IBM To Help Educate China's Outsourcing Pros
- MP3 Player Owners Thieves?