ADC Acquires Broadband for $2.25 Billion
MINNEAPOLIS, Minn., Sept 22 -- ADC Telecommunications Inc. announced the purchase of Broadband Access Systems Inc., racking up a $5-billion total in acquisitions of Internet-based companies this year. ADC Telecommunication will purchase the low-cost Internet-based voice transmission technology company for stock valued at $2.25 billion. ADC Technologies cited the demand for Internet-based voice transmission as the reason for its latest acquisition. ADC Telecommunications makes fiber optics and communications equipment.
MORE FROM PHOTONICS MEDIA