Coriant was owned by Marlin Equity Partners and Oaktree Capital Management.In addition to a broad line of optical transport systems as well as the 8600 Smart Router Series (which expands the company’s play in mobile networks), Infinera gains approximately 2,100 employees, more than 1,600 patents, and more than 600 customers globally. Marlin Equity merged Coriant and Tellabs (acquired by Marlin Equity in December 2013 Naperville, Illinois), which will operate as Coriant.
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Tellabs helps customers connect through our optical network technologies.Tellabs expertise is built on a legacy of leadership. For years, telecom companies have deployed fiber-based networks and have trusted Tellabs to help them deliver carrier-grade reliability and performance. Infinera issued 20,975,384 shares of its common stock to fulfill its stock obligations in the cash and stock deal for privately held Coriant, with approximately $154 million of an expected total of approximately $230 million in cash paid at the close.
Infinera (NASDAQ:INFN) has closed its previously announced $430 million acquisition of fellow optical transport systems specialist Coriant. Connecting is more than switches and cables.
Infinera also said that, while MKM predicted that the company would lose an RFP at CenturyLink to Ciena, CenturyLink has yet to decide on a supplier. More and more enterprise and government entities see the dramatic advantages that passive optical solutions have over traditional copper-based infrastructure. Both count around 2,100 employees each worldwide and more than 500 customers.The $430 million in total compensation includes $230 million in cash and $200 million in stock. [15] Mark Showalter, senior director, software product marketing at Infinera, estimates the company now is in the top five in terms of global optical network hardware market share.Earlier today, Infinera refuted speculation from financial advisors MKM Partners that the company would have to issue more stock than planned to close the deal. Coriant and Tellabs are set to start new lives as their new owner Marlin Equity Partners is merging the two companies and forming one common leadership team. Connecting is expertise, applied. MKM made the statements as it downgraded Infinera’s stock rating to “Sell” from “Neutral.” Infinera will initially pay $150 million in cash at closing.
Mike Dagenais, an industry veteran who had previously served as CEO of Radisys Corporation and as president and CEO of Continuous Computing, was tapped to head Tellabs as president and CEO.
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