CIENA Corp. has completed its acquisitions of Catena Networks Inc. and Internet Photonics Inc. pursuant to the terms of merger agreements announced on Feb. 19, 2004.
“The addition of Catena and Internet Photonics accelerates CIENA’s expansion beyond optical infrastructure, furthering our transformation into a comprehensive networking and service delivery partner for our customers,” said Gary Smith, CIENA’s president
and CEO. “CIENA can now offer customers integrated solutions that span from the optical core of their networks to the very point at which revenue is generated -- where they create and deliver the next-generation of voice, video and data services to both
enterprises and consumers.”
In the Catena transaction, CIENA acquired all outstanding shares of Catena’s common and preferred stock, and assumed all outstanding employee stock options in exchange for approximately 75.9 million shares of CIENA’s common stock.
In the Internet Photonics transaction, CIENA acquired all outstanding shares of Internet Photonics’ common and preferred stock, and assumed all outstanding employee stock options in exchange for approximately 24.1 million shares of CIENA’s common stock.
Combined, Catena and Internet Photonics add approximately 380 employees to CIENA. Effective immediately, Catena becomes CIENA’s Broadband Access Group, led by former Catena CEO, Jim Hjartarson. Internet Photonics becomes part of CIENA’s Metro and Enterprise Services Group (MESG) led by James Frodsham who recently joined CIENA. Frodsham’s previous experience includes more than 10 years at Nortel where he held several senior level positions.
