Alcatel-Lucent, Hewlett Packard to form alliance

Alcatel-Lucent SA and Hewlett Packard Co. said they are forming a 10-year global alliance to jointly market products and services.

Hewlett Packard will also manage a large part of Alcatel- Lucent's information technology infrastructure as part of the agreement, the two companies said in an e-mailed statement.

As part of the accord, Alcatel-Lucent will transfer to Hewlett Packard about 1,000 of its employees, a company spokesman said.

The alliance is slated to be completed in the second half of the year and is part of Alcatel-Lucent Chief Executive Officer Bernardus Verwaayen's plan to reduce costs at the company, the spokesman said.

Alcatel-Lucent shares rose 0.3 percent to 1.86 euros in Paris, giving the company a market value of 4.31 billion euros ($6.02 billion).Locally, the company has facilities in Lisle and Naperville.