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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (10617)	8/10/1999 4:27:00 AM
From: Researcher	Respond to of 57584

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To: Rande Is who wrote (10617)	8/10/1999 8:30:00 AM
From: Rande Is	Respond to of 57584

Lucent to buy International Network for $3.7 billion MURRAY HILL, N.J., Aug 10 (Reuters) - Telecommunications equipment maker Lucent Technologies Inc. LU.N said on Tuesday it would buy telecommunications software maker International Network Services INSS.O in a $3.7 billion stock deal. The purchase of the Sunnyvale, Calif., company could strengthen Lucent's data networking business. International Network Services, or INS, makes software used to manage networks that run on Internet protocol, which directs traffic on the World Wide Web. Lucent said in a statement that it had signed a definitive agreement for the merger. Under its terms, each share of INS will be converted into 0.8473 share of Lucent. Based on Lucent's closing Monday stock price of $63.625, the merger would be valued at about $3.7 billion, or about $54 an INS share, on a fully diluted basis. INS closed Monday at 47-7/16. Lucent closed at 63-10/16. The merger is expected to be completed during Lucent's first quarter of fiscal year 2000, which ends Dec. 31. The deal will be accounted for as a pooling of interests. Lucent said it expected the merger to be neutral to earnings in fiscal 2000. Lucent said it was "targeting the rapidly growing market for consulting, design, integration and support for next-generation networks."