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Lucent to buy Nexabit Networks

By Tony Hallett

Published: 28 June 1999 13:40 BST

Lucent Technologies is to buy Nexabit Networks, a maker of terabit switches for high-performance IP (Internet Protocol) wide area networks (WANs).

The privately held company will cost the world's largest telecoms equipment manufacturer about $900m in stock.

Last Thursday, acquisitive Lucent finalised its $25bn takeover of networking company Ascend Communications, and the latest deal will add 'super switch' capabilities to its widening portfolio.

Nexabit CEO and founder, Mukesh Chatter - who only last week rejected claims his company would soon be bought - will become Advanced IP Core Technologies VP in Lucent's InterNetworking Systems (INS) group

In separate news, Lucent and rival Cisco Systems have agreed to settle a year-old patent infringement lawsuit. Lucent had sued Cisco, only for the networking giant to respond with its own countersuit.

Details of the settlement are sketchy, but they are thought to include a technology cross-licensing agreement.

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