Network equipment maker Ciena has reached a definitive agreement to acquire privately-held World Wide Packets for USD 200 million in cash and 3.4 million shares of Ciena stock. World Wide Packets is a supplier of equipment for enabling the delivery of carrier Ethernet-based services. In addition, Ciena will assume up to USD 15 million in outstanding World Wide Packets debt. The boards of directors of both Ciena and World Wide Packets have approved the transaction. Pending regulatory approval, the transaction is expected to close during Ciena’s second quarter of fiscal 2008. After the transaction is completed, World Wide Packets will continue to operate from its Spokane Valley and San Jose locations.
Wireless Federation » Ciena to acquire World Wide Packets (USA)
Ciena to acquire World Wide Packets (USA)
- January 24th, 2008
- 9:06 am
