Lucent Technologies has agreed to sell its Power Systems business to Tyco International, a diversified manufacturing and service company, for $2.5 billion in cash.
“As Lucent focuses on the broadband and mobile Internet markets, we recognized that Power Systems and its employees will be best positioned in a company serving the electronics and power industries,” said Bill O’Shea, executive vice president at Lucent.
“We are pleased that Tyco recognized the value of the business and its talented people. We look forward to an ongoing relationship with Tyco and Power Systems under the multiyear agreement to purchase Power Systems products.”
Lucent Technologies, headquartered in Murray Hill, New Jersey, USA, designs and delivers the systems, software, silicon and services for next-generation communications networks for service providers and enterprises. Backed by the research and development of Bell Labs, Lucent focuses on high-growth areas such as broadband and mobile Internet infrastructure; communications software; communications semiconductors and optoelectronics; web-based enterprise solutions that link private and public networks; and professional network design and consulting services.