MURRAY HILL, N.J.-Lucent Technologies Inc. announced it signed an agreement to merge with International Network Services, a Sunnyvale, Calif.- based independent network consulting provider.
Under terms of the agreement, each share of INS will be converted into .847 shares of Lucent. Based on Lucent’s closing stock price of $63.63 on Aug. 9, the merger will be valued at approximately $3.7 billion, said Lucent.
The merger is expected to be completed during Lucent’s fiscal first quarter, which ends Dec. 31.
