MURRAY HILL, N.J.-Lucent Technologies Inc. said it will acquire Nexabit Networks for about 14 million shares of Lucent common stock, or approximately $900 million.
Nexabit is a privately held start-up developer of Internet protocol wide area network switching/ routing equipment, said Lucent. The Marlborough, Mass.-based company designs ultra high-speed “super switches” that operate at terabit rates, or 1 trillion bits or more, per second.
“This merger gives Lucent not only a leading product for ultra high-speed IP core networks, but a terrific lead in delivering terabit-speed switch/routers that connect directly to optical networking systems,” said Curt Sanford, president, InterNetworking Systems, Lucent Technologies.
Lucent said it expects the transaction to be completed July 31.
