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Nayna Networks to Buy Abundance Networks

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SANTA CLARA, Calif., Nov. 9 -- Nayna Networks Inc., a provider of next-generation network solutions, today announced that is buying substantially all of the assets of privately-held Abundance Networks of Shelton, Conn., a supplier of optical network access solutions in India, in an all-stock transaction. At the closing of the acquisition, Nayna will issue Abundance 800,000 shares of its stock, plus an additional number of shares equal to $1 million divided by the average of what the closing stock price was for 20 days prior to the day before the closing. The companies also agreed that 450,000...Read full article

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    Companies
    Published: November 2005
    Glossary
    broadband
    Indicating a capability to deal with a relatively wide spectral bandwidth.
    AbundanceacquisitionsbroadbandCommunicationsIndiaMumbaiNaynanetworksNews & FeaturesSharesstocktransaction

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