Let's call the whole thing off: Tellabs drops acquisition of Ciena

Article Abstract:

Tellabs Inc. announced it has dropped its acquisition plans for the Ciena Corporation. The deal was deemed untenable after lower financial prospects and a drop in share prices of both companies was apparent. Tellabs announced in June 1998 that it intended to acquire Ciena in a stock swap then valued at $7.3 billion. More larger companies, such as Lucent Technologies, have undercut pricings of telecommunications equipment manufacturers such as Ciena. On August 14, 1998, Ciena announced that its third quarter results would be less than half of expectations.

Comment:

Tellabs has dropped plans to acquire Ciena Corp

Telecommunications Equipment, Communications Equipment Manufacturing, Communications Equipment, Telecommunications systems, Tellabs Inc., Ciena Corp

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Veritas Software to acquire Seagate unit in stock swap

Article Abstract:

Seagate Software's Network and Storage Management Group will be acquired by Veritas Software in a stock swap that has been valued at $1.6 billion. Industry analysts have said that the proposed new company, which will have 2,300 workers in sixteen countries and projected 1998 revenues of over $350 million, will offer a broad line of storage products in the data storage industry. Mountain View, Calif.-based Veritas manufactures software that manages data storage for large networks of corporations.

Comment:

Will acquire Seagate Software's Network and Storage Management Group in a stock swap that has been valued at $1.6 bil

Computer Software, Software Publishers, Database Mgmt Software Pkgs (Micro), Software, DBMS software, VERITAS Software Corp., Seagate Software Network and Storage Management Group

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