VTech Holdings yesterday completed a deal to acquire part of Lucent Technologies' U.S. operation and an equity stake in Lucent's Mexican-based consumer telephone manufacturing business.
The two companies first announced the purchase in January. VTech will pay $113.3 million to purchase assets that include consumer research and development operations in New Jersey, associated intellectual property, and manufacturing and repair facilities in Mexico.
The agreement will place about 4,500 Lucent Consumer Products employees, working in Eatontown, Parsippany and Murray Hill, N.J., and another 200 in manufacturing and repair locations in Guadalajara and Reynosa, Mexico, under VTech.
In January VTech also reported that it had inked a 10-year deal obtaining the AT&T trademark license under which it will sell telephones and accessories in the U.S. and Canada.