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The Worst Tech Mergers and Acquisitions of Recent Times
By siliconindia
Lucent and Alcatel
It was rumored that Lucent's strength in wireless business would compliment Alcatel's global footprint and its prowess in fixed-line and broadband. Facing intense competition, the two decided to partner and form Alcatel-Lucent in 2006.
But it couldn't have been easy for either of the two, since Lucent--an offspring of the AT&T monopoly, it retained a common-and-control style--was hierarchical and centrally controlled; while Alcatel was entrepreneurial and flexible.
Since the merger, the deal has yielded malevolence, lost billions and is a threat to Pat Russo's future as the CEO. Major cultural differences made this merger a disaster, Alcatel being a French company and Lucent being an American company, differences in time, language, and management styles, put this marriage between these tech giants into trouble since day one.
The $27.5 billion company has posted six quarterly losses and has more than $4.5 billion in writedowns. Also, the stocks have plummeted by around 50 percent. The company has reported a net loss of $554 million in 2010. Adding on to the current misery is the threat from Huawei (which has picked up its key customer Britain's BT) in its traditionally strong fixed-broadband business.
