Ciena to acquire Tibit Communications to up focus on PON market, snaps up Benu Networks

NEW DELHI: US-based telecom gear maker Ciena said it has entered into a definitive agreement to acquire privately-held Tibit Communications in a bid to accelerate the time-to-market for PON solutions for enterprise, residential and mobility use cases.

A joint statement said that Ciena will acquire the remaining shares of Petaluma, California-headquartered Tibit that it does not already own in a cash-free, debt-free transaction currently valued at approximately $210 million under the terms of the agreement.