Lucent Technologies () is a company composed of what was formerly AT&T Technologies, which included Western Electric and Bell Labs. It was spun-off from AT&T on September 30, 1996. On April 2, 2006, Lucent announced a merger with its French competitor, Alcatel. The combined company will have revenues of approximately $25 billion U.S. based on 2005 calendar results. ^*

One of the primary reasons AT&T chose to spin off its equipment manufacturing business was to permit it to profit from sales to competing telecommunications providers; these customers had previously shown reluctance at purchasing from a direct competitor. Bell Labs brought prestige to the new company, as well as the revenue from thousands of patents.

At the time of its spinoff, Lucent was placed under the leadership of Henry Schacht, who was brought in to oversee its transition from an arm of AT&T into an independent corporation. Richard McGinn succeeded Schacht as CEO in 1997. Lucent became a "darling" stock of the investment community in the late 1990s, rising from a split adjusted spin-off price of $7.56/share to a high of $84. However, on January 6, 2000, Lucent announced the first of a string of announcements that it had missed its quarterly estimates, and when it was later revealed that it had used dubious accounting and sales practices to generate some of its earlier quarterly numbers, Lucent fell from grace. By October, 2002, when its stock price bottomed at 55 cents per share, Henry Schacht had been brought back on an interim basis to replace McGinn.^*

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