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Previously, Lucent had only overall profit-and-loss statements from its two divisions (not counting the spunoff business-phone system and soon-to-be-spunoff microelectronics units).
Previously, Lucent had only overall profit-and-loss statements from its two divisions (not counting the spun-off business-phone system and soon-to-be-spun-off microelectronics units).
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The remaining $2.5 billion will be assumed by Lucent's microelectronics unit, Agere Systems Inc., after it goes public.
"We've strapped ourselves to a rocket," said John Kelly III, the senior vice president for the I.B.M. microelectronics unit.
Lucent Technologies renamed the microelectronics unit it plans to spin off Agere Systems Inc., taking the name of a company it acquired earlier this year.
It closed on Friday at $13.63 He values Lucent's microelectronics unit, which Lucent plans to spin off to its shareholders early next year, at $15 a share.
Such developments signal how the microelectronics unit hopes it can help I.B.M. far beyond the sales and profit it generates directly.
"The second guy pays the first guy," said Bijan Divari, vice president for technology and emerging products at the microelectronics unit.
And I.B.M. warned that it expected revenues from its microelectronics unit, which makes hard disk drives and microchips, to plunge in the third quarter because many of its large customers had too much inventory on hand.
Lucent recently spun off Agere Systems, its microelectronics unit, for $3.6 billion.
It postponed and then repriced its IPO of Agere Systems, its microelectronics unit.
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