Lucent to Buy Madge’s Lannet Switch Unit

Lucent Technologies Inc., the largest maker of phone equipment in North America, said it will acquire Netherlands-based Madge Networks’ Lannet unit, which makes switches to route voice and data traffic, for $117 million in cash. Lannet, based in Tel Aviv, makes ethernet and asynchronous transfer mode switching equipment used in local area networks that connect computer users within an office. Murray Hill, N.J.-based Lucent makes switches, wireless equipment and develops software for voice and data networks. Lucent said it will take an undisclosed charge in its fourth quarter ending Sept. 30 for costs of writing off Lannet’s in-process research and development. Lucent, which expects the transaction to be completed in the fiscal fourth quarter, said it doesn’t expect any job cuts from the acquisition. Lucent’s shares slipped 56 cents to close at $86.63 on the NYSE.