Alcatel-Lucent completes Nortel UMTS acquisition
Tue Jan 2, 2007 4:59am ET
Mr. Tchuruk is Director of Thales and Total; Member of the Board of Directors of the Ecole Polytechnique, Chairman of Alcatel USA Holdings Corp., and... Full Bio
PARIS, Jan 2 (Reuters) - Franco-American telecoms gear group Alcatel-Lucent (ALU.PA: Quote, Profile , Research) said on Tuesday it had completed its acquisition of the high-speed UMTS mobile access business from Canada's Nortel (NT.TO: Quote, Profile , Research) (NT.N: Quote, Profile , Research) for $320 million.
The acquisition was made to help Alcatel-Lucent achieve greater scale and push into tough markets such as China.
After the deal, Alcatel-Lucent said one in four UMTS operators, or about 40 customers worldwide, would use the combined group's UMTS products.
Nortel said in September it had decided to sell its high-speed mobile operations to Alcatel because it was losing money and had little prospect of a near-term turnaround.
"The pre-integration work has progressed well," Mary Chan, head of Alcatel-Lucent's wireless activities said in a statement.
"Our aim is to achieve the optimum combination of Alcatel-Lucent and Nortel's technologies, with minimum customer disruption," Chan added. "We are well positioned to capture the UMTS market growth opportunity." |
