Announced just hours ago, Nokia will be merging with Alcatel-Lucent creating a titanic telecom company with over 100,000 employees and US$27 billion in revenues.  Nokia is the one taking control.

In the all-share transaction, Alcatel-Lucent shareholders will receive Nokia shares values at $16.6 billion.

The combined company will run under the Nokia brand, but will keep the Bell Labs brand dating all the way back to AT&T.  The Lucent and Alcatel brands are expected to cease.

To see my initial opinion on the transaction, see

To see the announcement from Nokia  see