Alcatel complete its acquisition of Lucent

Alcatel complete its acquisition of Lucent

Alcatel SA has said that they have completed the acquisition of Lucent Technologies. The merger of these two companies has now created one of the world’s biggest suppliers of network equipments.

The deal was worth around $11.5 billion and it even received the approval of the White House. The merger is expected to help both the companies take on their rivals in the network hardware industry.

This is one of the most recent mergers in this market, which has become very competitive. We have been seeing several efforts of consolidation in the market including that of AT&T Inc. and BellSouth Corp.

The two companies said in a joint statement that the combined entity would begin operations under the name Alcatel-Lucent from December 1. The shares would begin trading on Euronext Paris and the New York Stock Exchange under a new common symbol “ALU”.

Patricia Russo is the new chief executive officer of Alcatel-Lucent and the headquarter of the company is now based in Paris France.