Briefs: Lucent pushing integration

Alcatel-Lucent pushing integration

PARIS -- Alcatel-Lucent SA, the telecommunications-equipment maker, plans to speed up the integration of the former Alcatel SA and Lucent Technologies Inc. Chief Executive Officer Patricia Russo has been given until Oct. 30 to present an emergency restructuring plan to her board, and to explain where the company should focus research and sales efforts, the Financial Times reported Friday, citing an unidentified person close to the Paris-based company's board. The company has operations in Naperville and Lisle.

3Com agrees to $2.2 billion buyout

BOSTON -- Network equipment maker 3Com is giving up its independence in a $2.2 billion buyout by Bain Capital Partners, but it's gaining freedom from the whims of the market and a chance to expand in China. The cash deal announced Friday also gives Huawei Technologies, China's largest manufacturer of telecommunications equipment, a minority stake in the technology pioneer, something that could improve its prospects in Asia and raise eyebrows in Washington.

Avaya shareholders say yes to buyout

NEWARK, N.J. -- Shareholders of Avaya Inc. voted Friday to take the communications and software company private, selling it for $8.2 billion to two private equity groups. The deal is expected to be completed by the end of October. The company announced in June it accepted a buyout offer from affilaites of Silver Lake Partners and TPG.

NetBank fails on loan defaults

WASHINGTON -- NetBank, an online bank with $2.5 billion in assets, was shut down by the government Friday because of an excessive level of mortgage defaults. It was the largest savings and loan failure since the tail end of the industry's crisis more than 14 years ago. Federal regulators appointed the Federal Deposit Insurance Corp. as a receiver for Alpharetta, Ga.-based NetBank. Customers with less than $100,000 deposited with NetBank will be protected by FDIC insurance.