Telecom and Communications M&A activity was down sharply from the previous quarter, dropping 69% from $990 million to $305 million in aggregate deal volume.
The transaction that comprised virtually the entire deal volume was the acquisition of World Wide Packets by Ciena Corporation (Nasdaq: CIEN), in the amount of $290 million. The deal was composed of $200 million in cash, 3.4 million shares of Siena stock and the assumption of $15 million in outstanding debt.
World Wide Packets provides telecom companies with Ethernet broadband Fiber to the Subscriber connectivity solutions via its LightningEdge offering.
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