Close

Search

Search Menu
Photonics Media Photonics Marketplace Photonics Spectra BioPhotonics EuroPhotonics Vision Spectra Photonics Showcase Photonics ProdSpec Photonics Handbook

CIENA to Acquire Akara

Facebook Twitter LinkedIn Email Comments
LINTHICUM, Md., August 26 -- CIENA Corp. has announced its intent to acquire privately-held Akara Corp., a developer of SONET/SDH-based extended storage area networking, or storage-over-distance, technology.

Akara, a Delaware corporation with development facilities in Ottawa, Ontario, manufactures devices that extend the distance over which data can be transported. Enterprises and telecom carriers use the company's extension platform to bridge data centers over optical networks. Akara has approximately 50 employees.

Under the terms of the acquisition agreement, Akara will merge with a wholly owned subsidiary of CIENA, and all remaining outstanding shares of Akara common and preferred stock will be exchanged for an aggregate consideration of $45 million consisting of $31 million in cash and $14 million in shares of CIENA common stock. The number of CIENA shares to be issued will be determined based on the average closing price of CIENA common stock on the Nasdaq Stock Market on the ten trading days before closing, expected in the fourth fiscal quarter of this year.

The transaction is subject to various conditions. The boards of directors of both CIENA and Akara, and the holders of a majority of Akara's stock, have approved the transaction.

For more information, visit: www.ciena.com


Photonics.com
Aug 2003
CommunicationsNews & Features

Comments
LATEST HEADLINES
view all
PHOTONICS MARKETPLACE
Search more than 4000 manufacturers and suppliers of photonics products and services worldwide:

back to top
Facebook Twitter Instagram LinkedIn YouTube RSS
©2021 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA, [email protected]

Photonics Media, Laurin Publishing
x We deliver – right to your inbox. Subscribe FREE to our newsletters.
We use cookies to improve user experience and analyze our website traffic as stated in our Privacy Policy. By using this website, you agree to the use of cookies unless you have disabled them.