(Updates share prices throughout)Hewlett-Packard ( HPQ) has raised the stakes in its battle with networking giant Cisco ( CSCO) by forging a 10-year global alliance with telecom equipment maker Alcatel-Lucent ( ALU). Cisco sent shockwaves through the tech sector when it entered the server market with its Unified Computing System (UCS) earlier this year, effectively stepping on the toes of its long-standing partners IBM ( IBM) and H-P. The move prompted belligerent noises from H-P, which retaliated with the launch of its BladeSystem Matrix. H-P has also ramped up its efforts around its own ProCurve networking gear. Palo Alto, Calif.-based H-P will now jointly market its products with Alcatel's in a deal claimed to be worth billions of dollars between now and 2019. Alcatel's offerings in areas such as IP telephony, security and call centers will also be integrated with H-P's technology. Shares of Alcatel gained 5 cents, or 1.9%, to $2.65 in Thursday trading. H-P rose 13 cents, or 0.4%, to $37.55, as the Nasdaq dipped 0.02%. At least one analyst thinks that the partnership is a shrewd move, particularly at a time when companies are looking to deliver more and more services via Internet. "This is positive for Alcatel-Lucent and H-P because, as business migrates to 'cloud computing,' they will demand high quality services and secure networks," wrote Avi Cohen, managing partner at analyst firm Avian Securities, in a note released Thursday. "Alcatel-Lucent can support cloud computing efforts of the carriers with a stronger tie to H-P and, likewise, H-P will be able to support Alcatel-Lucent with its vast enterprise channel."