Ciena has announced that they have completed the acquisition of World Wide Packets. As covered in January, the deal closed for $196.7mn in cash, and 2.5mn Ciena shares ($87.8mn). Ciena takes on $11.3mn debt from World Wide Packets.
World Wide Packets will operate as a wholly owned Ciena subsidiary company from its Spokane, Washington, United States site.
“This acquisition enables us to capitalize on our early leadership in converged Ethernet solutions by accelerating the implementation and time-to-market of our Carrier Ethernet portfolio, drawing in new customers and strengthening our position in existing accounts. In addition, World Wide Packets brings strong engineering expertise and business acumen in this technology arena, deepening Ciena’s command of this nascent market and furthering our credibility in the space.” – Gary Smith, President and CEO, Ciena.
