Lucent Technologies was spun off in September 1996 as the systems and technology unit of AT&T Technologies, and grew to become a major player and developer of mobility, optical, data and voice networking technologies.
The company pushed through 38 acquisitions between 1996 and 2001 which totaled more than US$46 billion, and included a US$24 billion payout for data networking equipment maker Ascend Communications.
Today, Lucent has two operating units: Networking Solutions Group, combining its wireless and wireline communications products, and Lucent Worldwide Services, which offers a range of professional and managed services that including the design, deployment and maintenance of multi-vendor wireline and wireless networks.
Lucent also operates Bell Labs, a research and development arm that focuses on the on communications networking technologies. The lab's work spans various fields including physical sciences and nanotechnology, computer sciences and software, mathematical sciences, and advanced wireless and wireless networking research.
In fact, Bell Labs researchers were awarded six Nobel Prizes in Physics, amongst other national medals in the United States. Lucent's team of scientists and engineers has earned over 31,000 patents since 1925.
Headed by Chairman and CEO Patricia F. Russo, New Jersey-based Lucent employs about 30,500 people worldwide and recorded US$9.05 billion in revenues for its fiscal year 2004, ended Sep. 2004. Russo was also ranked 14th on Fortune's 2004 list of Most Powerful Women in Business.
Lucent's customer base ranges from communications service providers to enterprises and governments across the globe. In June this year, Lucent sealed several new contracts in Asia, including Japan's Heisei DenDen which upgraded its metro-area network with Lucent's 10G-based optical systems, and Vietnam Power Telecom.