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Telecommunications Lucent beats Ericsson to Riverstone, for $US207m
Telecommunications Lucent beats Ericsson to Riverstone, for $US207m | Lucent beats Ericsson to Riverstone, for $US207m |
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| by Stuart Corner | |
| Thursday, 23 March 2006 | |
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The terms are subject to final approval by the US Bankruptcy Court, in a hearing scheduled for March 23, 2006. "We're excited to become a part of Lucent, and believe our customers will benefit from end-to-end solutions available from a single source as a result of the combination of our businesses," said Riverstone Networks president and CEO, Oscar Rodriguez. Ken Wirth, president, Multimedia Network Solutions at Lucent, said: Riverstone's people and products will play an important role in advancing Lucent's end-to-end converged ethernet/optical solutions and helping us in our efforts to take share of a growing carrier ethernet market." The parties expect the transaction to close in early April.
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