AT&T puts equipment unit up for sale in what is seen as start of asset sales
Article Abstract:
AT and T announced that it is actively seeking buyers for its Paradyne data-communications unit, marking the first move in the telecommunications giant's massively restructuring. AT and T recently announced that it would break itself into separate telecommunications services, telecommunications equipment and computer equipment companies. The breakup is expected to be completed by the end of 1996. The sale of Paradyne is part of the company's efforts to shed unprofitable or marginally profitable units before the core businesses are separated. AT and T bought Paradyne in 1989 for $250 million. Analysts state that AT and T could get as much as $400 million for the unit. Paradyne has $300 million in annual sales and approximately 1,300 employees. The unit manufactures high-end data communications products such as modems and high-capacity network equipment.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1995
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Lucent, Philips to produce phones jointly; Dutch Electronics concern to control 60% of unit with $2.5 billion in sales
Article Abstract:
Telephone manufacturer, Lucent Technologies is merging its consumer-phone unit with Philips Electronics's consumer-phone unit, to create a new company called Philips Consumer Communications. The company will have $2.5 billion in annual revenues and Philips Electronics will have 60% control while Lucent will have 40%. Both companies will join complementary assets, such as research and developement, employees, plants and product lines. Lucent's stock rose $2.125 a share to $69.75 and Philips stock rose $3 a share to $66.25. The merger will allow Lucent to remain focused on its chip businesses and network equipment. Philips' will benefit from technology advancements of Bell Labs. Michael McTighe, the managing director of Philips's consumer business will be the CEO of Philips Consumer Communications.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Motorola to unveil next-generation cellular phone, the lightest on the market
Article Abstract:
Motorola Inc introduces a cellular telephone, weighing only 7.8 ounces, to be priced at around $1,500 to $2,000. The product is designed to be the lightest on the market. It will run between 50 and 60 minutes on a single battery charge. It uses gallium arsenide technology, which is faster and uses half the power of silicon-based chips. Motorola has established a factory in Phoenix, AZ, to manufacture gallium arsenide chips. The new telephone is Motorola's response to lightweight cellular phones which have been introduced by Japanese companies. Fujitsu Ltd's Pocket Commander, which weighs 10.2 ounces and runs 45 to 60 minutes on a single charge, also uses gallium arsenide chips.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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