Ciena Agrees to Buy World Wide Packets
Ciena Corp., a Linthicum maker of telecommunications equipment, said today it has agreed to buy World Wide Packets for about $290 million in cash and stock. (See Ciena's statement.) Founded in 1999, privately held World Wide Packets sells equipment for networks that use Carrier Ethernet technology. The companies said that World Wide Packets would continue to operate from its locations in Spokane Valley, Wash., and San Jose, Calif. The transaction is expected to close in the next few months, pending approval from shareholders and government regulators.
January 22, 2008; 6:51 PM ET
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