Tyco Acquires Lucent Division

MURRAY HILL, N.J. -- Lucent Technologies (NYSE: LU) today announced it has completed the sale of its Power Systems business to Tyco International Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC), a diversified manufacturing and service company, for $2.5 billion in cash. On November 13, 2000, both companies announced that they had reached a definitive agreement for the unit's sale. Lucent noted that, as the company focuses on the broadband and mobile Internet markets, the Power Systems business will be best positioned in a company serving the electronics and power industries.

http://www.lucent.com