M&A Activity
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.
Table 2
Venture M&A Activity – 1st Quarter 2008
| Industry |
M&A
Transaction Amounts |
% Change
Vs. Prior
Quarter |
M&A
Number of
Transactions |
% Change
vs. Prior
Quarter |
| Telecom |
$ 290 Million |
-- |
1 |
-- |
| Wireless |
Undisclosed |
-- |
1 |
-- |
| Mobile |
$15 Million |
-- |
1 |
-- |
| Communications |
$0 |
-- |
0 |
-- |
| Total |
$305 Million |
- 69 % |
3 |
- 300 % |