John St. Amand, Telica's founder and CEO, said Telica has deployed more than 3 million ports and supported about 4 billion minutes of use per month on its systems.
St. Amand will remain with Lucent and oversee Telica as it becomes part of Lucent's integrated network solutions business.
Terms of the deal call for Lucent to exchange 92.7 million shares of common stock and options for all of Telica's equity. At Friday's closing Lucent price of $3.19 a share, that would be worth $296 million.
In morning trading on the New York Stock Exchange, Lucent shares were up 5 cents at $3.24. The transaction, expected to close during Lucent's fourth fiscal quarter of 2004, is subject to regulatory approvals.
The purchase may result in a one-time charge against earnings for research and development, which would be taken in the quarter in which the deal is completed, Lucent said.