Lucent Technologies Buys Programmable-Switch Maker.
Multichannel News, August, 1999
MURRAY HILL N.J. -- Lucent Technologies is acquiring programmable-switch maker Excel Switching Corp. for about $1.7 billion worth of stock. The buyout -- the latest in a string of major network-related acquisitions by Lucent -- brings in one of the leading developers of the platforms that bridge circuit and packet networks, which Lucent said will enable its customers to bring new voice and Internet-protocol services to market faster.
The programmable-switch market is growing at a 20 percent annual pace, Lucent estimated. Excel has some 4,700 customers in 70 countries.
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