MURRAY HILL, N.J.-Lucent Technologies Inc. announced it exercised its option to acquire the remaining 80 percent of WaveAccess Ltd. for about $50 million in cash. In May, Lucent acquired a 20-percent stake in the company.
The acquisition will provide Lucent with a packet radio technology for licensed spectrum, wireless Internet access and metropolitan area networks. The purchase is expected to result in a one-time charge against earnings to be taken in the quarter in which the transaction is completed. Excluding this, the financial impact of the purchase is expected to be immaterial, said Lucent.
