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.
Want unlimited access to the complete database with thousands of technology companies, VCs and transactions for only $25 per month?
Start your Free 14 Day Trial now – no obligation or credit card required.
Founded in 2006, VentureDeal is a database that provides the latest information about venture capital firms, venture-backed technology companies and transactions throughout North America.
Learn More »
Email Sign Up
© 2016 VentureDeal, Inc., Menlo Park, CA. All Rights Reserved.