Lucent Acquires SpecTran
Telecommunications giant Lucent Technologies of Murray Hill, N.J., has agreed to purchase specialty optical fiber manufacturer SpecTran Corp. Terms of the deal include a cash transaction of $64 million, or $9 a share, plus the assumption of $35 million in SpecTran debt. The deal builds off a relationship forged last year giving SpecTran rights to certain Lucent fiber patents.
SpecTran's division in Sturbridge, Mass., designs optical fiber for premises data communications and telecommunications applications. A second division in Avon, Conn., develops custom-engineered fiber solutions and cable components. The companies expect to close the deal Sept. 30.
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