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CIENA to Acquire Wavesmith

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LINTHICUM, Md., April 10 -- CIENA Corp. has announced a definitive agreement to acquire WaveSmith Networks Inc., of Acton, Mass., a maker of multiservice switching products, for about $158 million in stock. 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 outstanding shares of WaveSmith common and preferred stock will be exchanged for approximately 36 million shares of CIENA common...Read full article

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    Published: April 2003
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