Lucent Technologies on a shopping spree

Lucent Technologies continues to fill its shopping cart with market-savvy acquisitions. The phone equipment maker plans to buy Kenan Systems for $1.48 billion in stock, and is reportedly in talks with Ascend Communications. If a deal were to happen, the combined company would be able to better compete with networking leader Cisco Systems.

Ascend board to meet on Lucent offer update Ascend Communications' board reportedly could meet Tuesday to consider a takeover offer, expected to exceed $16 billion, from Lucent Technologies. Lucent to buy Kenan Systems Lucent Technologies says it will acquire privately held Kenan Systems in a stock deal worth about $1.48 billion. Lucent adds $1.3 billion in first quarter The largest U.S. maker of phone equipment has a $1.3 billion fiscal first quarter gain after changing accounting practices to reflect the value of its pension assets.