I guess this is the lucky company!?!
Posted at 9:41 a.m. PST Wednesday, December 10, 1997
Lucent buying Prominet for $200 million
MURRAY HILL, N.J. (Reuters) - Lucent TechnologiesInc.said
Wednesday it will acquire Prominet Corp., a privately held
developer of local area network switching equipment, for
about $200 million in stock. Marlborough, Mass.-based
Prominet makes switches that connect personal computers,
workstations and servers using Gigabit Ethernet and
integrated routing, referred to as Layer2/Layer 3
capabilities in the data networking industry. The purchase
is expected to result in a one-time, non-cash charge
against Lucent earnings, the company said. It said the
extent of the charge has not yet been determined.
Menachem Abraham, president and CEO of Prominet, will
join Lucent as president, Gigabit Ethernet Switching Products, in its Data Networking Systems group, Lucent
said. Lucent's stock was off $1.06 at $79.19 on the New
York Stock Exchange. |
