Sycamore Networks agreed to acquire Eastern Research Inc., a global provider of multiservice cross-connect and access gateway solutions, for approximately $92.5 million, consisting of $8 million in cash and approximately 17.8 million shares, subject to certain closing adjustments and collar provisions.
Eastern Research’ product portfolio spans multiservice cross-connects and access gateways that aggregate, groom, and manage bandwidth in access portions of wireline and wireless infrastructure networks. Its customer base include Tier 1 fixed line and mobile network operators, utility companies, government agencies, and military networks. The company is based in Moorestown, New Jersey. For calendar year 2005, Eastern Research had revenue of approximately $62 million.
“The acquisition of Eastern Research is a first step towards leveraging our strengths in the core to offer a more comprehensive suite of solutions optimized for emerging broadband networks,” said Daniel E. Smith, president and chief executive officer, Sycamore Networks.
http://www.sycamorenet.comhttp://www.erinc.com
