Lucent Technologies
From ArticleWorld
Lucent Technologies is a corporation formed by AT&T and the well-known Bell Laboratories after the systems and technology unit of the parent company launched its separation. The company so formed was placed under the leadership of Henry Schacht to see its changeover from a wing of the original company into a completely independent entity.
An initial offering of stock was issued in the month of April in 1996. The spin-off of the systems and technology unit was finally completed in the September of the same year. Shares of Lucent were distributed to AT&T shareholders. Around the time of its launch, Lucent was a major competitor in optical, data and voice networking technologies, apart from web-based enterprise solutions linking public and private networks, communication software, network design, consulting services and communication technology based on semiconductors and optoelectronics.
Development of the company
The company completed acquisitions to the tune of over $46 billion during the period from 1996 to 2001. This phase also saw the purchase of Ascend Communications, which was worth around $24 billion. This made Lucent Technologies the leading data networking equipment provider for service providers.
The company also spun off its enterprise networking group in 2000, with the shares of Avaya Inc. being sold to shareholders of Lucent Technologies. The following year, Lucent completed a public offering through its microelectronics division known as Agere Systems.
The next generation of wireline and wireless products as well as services began to be realized under the aegis of Lucent Technologies. The company had to face a changing scenario in the telecom sector during the turn-of-the-century economic slump. The organization had to be restructured before stability was restored a little later.
Presently, the company has two units in operation meant to cater to the needs of customers. The first one is the Network Solutions Group, which looks after the wireless and wireline portfolio for advancements in broadband communication and the second is the Lucent Worldwide Services, which handles professional and managed services for networks. This deals in the design, deployment and upkeep of various networks.
Lucent’s business
Lucent Technologies has 30,500 employees as of the present. At its zenith, however, the company had 165,000 employees. The current head of the company is Patricia Russo.
The company presently is focusing at issues pertaining to providing simple, reliable, seamless and portable solutions to concerned users. With a prolific research and development wing, this company and its main parent Bell Labs have been responsible for several tens of thousands of inventions since 1925.