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Article: CIENA Announces Intent to Acquire WaveSmith; Addition of Multiservice Switching Platform to Product Portfolio Expands Addressable Market.
- Article from:
- Business Wire
- Article date:
- April 9, 2003
CopyrightCOPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/High-Tech Writers
LINTHICUM, Md.--(BUSINESS WIRE)--April 9, 2003
CIENA(R) Corporation (NASDAQ:CIEN), a leading provider of intelligent optical networking systems and software, today announced a definitive agreement under which CIENA will acquire privately-held WaveSmith Networks, Inc. Based in Acton, Mass., WaveSmith is a leading innovator of multiservice switching. CIENA was an investor in WaveSmith's third round of financing and resells WaveSmith's equipment under a previously announced worldwide sales and reseller agreement.
Under the terms of the acquisition agreement, WaveSmith will merge into CIENA, and all remaining ...