LINTHICUM, Md., Sept. 3 -- CIENA Corp. announced today it has completed its acquisition of Akara Corp., as announced August 21. In the transaction, CIENA acquired all outstanding shares of Akara in exchange for $31 million in cash and approximately 2.3 million shares of Ciena common stock. The price paid in the transaction was approximately $46.2 million, based on the closing price of CIENA’s common stock on August 29.
Akara, a developer of SONET/SDH-based extended storage area networking, or storage-over-distance, technology, will continue operations from its Ottawa, Ontario facility.
For more information, visit: www.ciena.com