Telecommunications gear maker Ericsson said Tuesday it would buy Redback Networks, which makes routers used by telecom carriers to direct data traffic, for US$2.1 billion. Sweden-based Ericsson said it would pay $25 in cash for each of share Redback stock, an 18 percent premium over Tuesday's closin...
France-based telecom giant Alcatel said Friday it had reached an agreement to acquire the Universal Mobile Telecommunications wireless access business unit of Nortel in a deal valued at about US$320 million. The deal is aimed at boosting Alcatel's profile in the wireless broadband space, and represe...
Lucent Technologies warned Monday that lower sales in North America would cause its revenue and profit to drop from a year ago for the quarter that ended in June. Murray Hill, N.J.-based Lucent -- which agreed to be bought by Alcatel of France earlier this year in a deal worth US$13.45 billion -- sa...
Microsoft is reviewing a lawsuit filed against it by Lucent Technologies. The suit alleges that Microsoft's Xbox 360 video game console contains technology that infringes on a Lucent patent. Lucent filed the suit in the U.S. District Court in San Diego on March 28. The company is seeking an injuncti...
The telecommunications industry has taken another giant leap toward consolidation, with the new AT&T -- created through a blockbuster merger completed just months ago -- poised to buy regional provider BellSouth in a deal worth US$67 billion in stock. The deal would create the largest single tel...
Cellular carriers have spent more than a decade and billions of dollars building out their networks so customers can use their services wherever they may roam. Coverage has improved along and on many city streets, but in-building reception has remained spotty in many cases. Companies such as Andrew ...
Mobile phone makers and carriers are capturing the lion's share of the buzz at the annual CeBIT trade show this week, with vendors rolling out new products aimed at accommodating the next generation of wireless services and the rise of mobile commerce. A slew of new and upgraded technology has been ...
U.S. wireless carrier Sprint announced it was pumping US$3 billion into high-speed wireless network partnerships with Motorola, Lucent and Nortel, hoping that more bandwidth and speed will let it generate more revenue from users. The deal was a must for Motorola, which won extension of its agreement...
Bidding to solidify and expand its new role as market leader in the wake of its merger with AT&T Wireless, Cingular Wireless has announced plans to roll out faster wireless service and more broadband-dependent services nationwide. Cingular said its completion of the US$41 billion merger with AT&...
A new tax rule for U.S. businesses that have moved software development, customer service, and research and development work to India was issued by the Finance Ministry of India (GOI) on September 28. The circular, titled "Circular 5/2004," replaces a circular issued by the Finance Ministry's Centra...
Oil prices weighed heavily on U.S. stock markets today as investors were left to ponder not if but when oil will break the $50 barrier -- and what will happen as a result. Oil futures shot to new high levels, reaching $49.64 a barrel on the New York Mercantile Exchange, up 76 cents on the day. That ...
Investors continued to be bullish on technology stocks Monday, driving the Nasdaq above the 1,900 level for the first time in two months and helping to lift stocks higher across the board. Stocks rose despite another surge in oil prices, which was brought on this time by fears that Hurricane Ivan wi...
Battered Nortel Networks said it would lay off 3,500 workers and fire seven executives as part of its latest attempt to move beyond an epic accounting scandal and regain its market prominence. The layoffs, part of a US$400 million restructuring aimed at cutting costs to be more competitive, represen...
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