MURRAY HILL, NJ - Lucent Technologies has completed the sale of its Atlanta-based Optical Fiber Solutions (OFS) bus...
November 16, 2001
MURRAY HILL, NJ – Lucent Technologies has completed the sale of its Atlanta-based Optical Fiber Solutions (OFS) business to Furukawa Electric Co., Ltd., a deal originally announced on July 24.
Under terms of the agreement, Lucent will receive US$2.3 billion from Furukawa for the major portion of the business — US$225 million less than originally agreed. Furukawa and CommScope will form a venture to operate a portion of the OFS business.
In another agreement, also announced on July 24, Corning will purchase the remaining portion of Lucent’s OFS business for US $225. This business consists of interest in Lucent Technologies Shanghai Fiber Optic Co. Ltd. and Lucent Technologies Beijing Fiber Optic Cable Co., Ltd.
Lucent says the sale of this business is intended to better meet the needs of the service providers for advanced broadband and mobile infrastructure technology.
About Lucent Technologies
Lucent Technologies designs and delivers networks for the world’s largest communications service providers. For more information on Lucent Technologies, visit its Web site at http://www.lucent.com.