MURRAY HILL, N.J., July 24 -- Lucent Technologies' microelectronics business, which includes the optoelectronics components and integrated circuits divisions, will become a separate company focused on providing communications equipment to the semiconductor market, said Lucent Technologies.
The new business will continue to manufacture silicon chips and optoelectronic components, such as lasers, which are the backbone of wireless phones, modems, Internet equipment and other optical networking systems.
An initial public offering for up to 20 percent of the new company has been arranged for the end of next year's first quarter, with the leftover shares to be spun off in a tax-free distribution by next summer, said Lucent.