China Huaxin Post & Telecommunication Economy Development Center has paid €202 million for an 85% stake in Alcatel-Lucent's enterprise division, which has been moved into a separate holding company with Alcatel-Lucent retaining the other 15%.
Alcatel-Lucent Enterprise's headquarters will remain near Paris. The company has operations in more than 80 countries and employs more than 2,700 people.
Its range includes Ethernet switches and routers, Wi-Fi access points, phones and collaboration products, and network security and management tools.
China Huaxin chairman Yuan Xin said "Our long-term investment approach will help Alcatel-Lucent Enterprise deliver on its ambition while enabling us to strengthen our strategic position in the enterprise communications arena.
"Alcatel-Lucent Enterprise has very strong assets and a recognised leadership in many markets across the globe.
"We are looking forward to leveraging our investment capabilities and experience to bring this business to the next level, both in size and market outreach."
China Huaxin has previously invested in Alcatel-Lucent Shanghai Bell and the Yangtze Optical Fiber & Cable Company.