{"id":714314,"date":"2022-11-22T09:06:35","date_gmt":"2022-11-22T14:06:35","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ciena-makes-strategic-acquisitions-in-fiber-broadband-access-to-further-address-growing-opportunity-at-the-network-edge\/"},"modified":"2022-11-22T09:06:35","modified_gmt":"2022-11-22T14:06:35","slug":"ciena-makes-strategic-acquisitions-in-fiber-broadband-access-to-further-address-growing-opportunity-at-the-network-edge","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ciena-makes-strategic-acquisitions-in-fiber-broadband-access-to-further-address-growing-opportunity-at-the-network-edge\/","title":{"rendered":"Ciena Makes Strategic Acquisitions in Fiber Broadband Access to Further Address Growing Opportunity at the Network Edge"},"content":{"rendered":"

<\/p>\n

Ciena Makes Strategic Acquisitions in Fiber Broadband Access to Further Address Growing Opportunity at the Network Edge<\/b><\/p>\n

Announces Intent to Acquire Tibit Communications and Acquisition of Benu Networks<\/i><\/p>\n

HANOVER, Md.–(BUSINESS WIRE<\/a>)–Ciena<\/a>\u00ae<\/sup> Corporation (NYSE: CIEN), a networking systems, services and software company, today announced that it has entered into a definitive agreement to acquire Tibit Communications, Inc., a privately-held company headquartered in Petaluma, California, and that it has acquired Benu Networks, Inc., a privately-held company headquartered in Burlington, Massachusetts. Tibit and Benu are focused on simplifying broadband access networks through next-generation PON technologies and advanced subscriber management, respectively.\n<\/p>\n

\nIndividually and together, Tibit and Benu will complement Ciena\u2019s existing portfolio of solutions for broadband access use cases, including residential broadband, enterprise business services, and fixed-wireless access, which represent a significant addressable market for Ciena. In addition, the acquisitions will strengthen Ciena\u2019s expertise in these areas, with the addition of a combined 60+ talented engineers with significant experience in access technologies.\n<\/p>\n

\n\u201cThe acquisitions of Tibit Communications and Benu Networks will extend our ability to support customers\u2019 next-generation metro and edge strategies as service providers globally accelerate investments to modernize their networks and improve connectivity at the network edge,\u201d said Scott McFeely, Senior Vice President, Global Products and Services, Ciena. \u201cTibit\u2019s high-speed PON technologies and Benu\u2019s subscriber management products, combined with Ciena\u2019s current access and edge portfolio, will enable us to offer broader, more complete, and fully integrated broadband access solutions that combine routing, subscriber management, and PON features and functionality.\u201d\n<\/p>\n

Tibit Communications
\n
<\/b>Tibit combines PON-specific hardware and OS into a micro pluggable transceiver that can be easily integrated into a carrier-grade Ethernet switch. Unlike the closed and proprietary approaches of traditional Optical Line Terminal (OLT) vendors, Tibit\u2019s open, microplug OLT technology enables rapid PON deployment in any environment.\n<\/p>\n

\nThe acquisition will enable Ciena to build on its market traction and accelerate its time to market, specifically with more vertically integrated, next-generation PON solutions that support residential, enterprise, and mobility use cases, including 10G XGS-PON with development paths to deliver 25G and higher PON in the future.\n<\/p>\n

\n\u201cThe global PON market is growing at a rapid pace and this acquisition will provide the opportunity to take Tibit\u2019s differentiated products to market at scale through Ciena\u2019s extensive service provider customer base. And, as a combined team, we will continue to support and leverage Tibit\u2019s existing network of relationships with system integrators and other equipment vendors,\u201d said Edward Boyd, Vice President of Engineering and Chief Technology Officer of Tibit Communications.\n<\/p>\n

\nCiena and Tibit have a strong existing relationship. Ciena has been an investor in Tibit since its initial funding round in 2016 and is currently Tibit\u2019s largest shareholder. Ciena is also Tibit\u2019s largest customer, successfully leveraging Tibit\u2019s products and technology within its portfolio of broadband access solutions.\n<\/p>\n

\nUnder the terms of the agreement, Ciena will acquire the remaining shares of Tibit that it does not already own in a cash-free, debt-free transaction currently valued at approximately $210 million, with the merger consideration to be paid in cash. In addition, Ciena will enter into certain employee retention arrangements in connection with the transaction. The Tibit transaction has been approved by the boards of directors of both companies as well as Tibit\u2019s shareholders. The transaction is expected to close during Ciena\u2019s fiscal first quarter 2023, subject to customary closing conditions.\n<\/p>\n

Benu Networks
\n
<\/b>Benu has developed a portfolio of field-proven, cloud-native software solutions, including a virtual Broadband Network Gateway ((v)BNG), which are highly complementary to Ciena\u2019s existing portfolio of broadband access solutions. Benu will provide Ciena with the ability to deliver a single solution that integrates routing, OLT, subscriber management and network services, thereby reducing both capital and operating expenses and improving sustainability for our customers.\n<\/p>\n

\n\u201cCiena and Benu have already successfully partnered in the market, including as part of an award-winning joint Proof of Concept (POC) with other residential broadband ecosystem vendors, as well as on active work on customer trials and POCs globally. As part of Ciena, we will be in a stronger position to further extend the market reach and continued development of our software solutions,\u201d said Ajay Manuja, CEO of Benu Networks.\n<\/p>\n

\nThe Benu transaction closed during Ciena\u2019s fiscal first quarter 2023.\n<\/p>\n

About Ciena
\n
<\/b>Ciena (NYSE: CIEN) is a networking systems, services and software company. We provide solutions that help our customers create the Adaptive Network\u2122 in response to the constantly changing demands of their end-users. By delivering best-in-class networking technology through high-touch consultative relationships, we build the world\u2019s most agile networks with automation, openness and scale. For updates on Ciena, follow us on Twitter @Ciena<\/a>, LinkedIn<\/a>, the Ciena Insights blog<\/a>, or visit www.ciena.com<\/a>.\n<\/p>\n

Note to Ciena Investors
\n
<\/b>You are encouraged to review the Investors section<\/a> of our website, where we routinely post press releases, SEC filings, recent news, financial results, and other announcements. From time to time we exclusively post material information to this website along with other disclosure channels that we use. This press release contains certain forward-looking statements that are based on our current expectations, forecasts, information and assumptions. These statements involve inherent risks and uncertainties. Actual results or outcomes may differ materially from those stated or implied, because of risks and uncertainties, including those detailed in our most recent annual and quarterly reports filed with the SEC. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies and can be identified by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20221122005479\/en\/<\/a><\/span><\/p>\n

Press Contact<\/b>:
\n
Nicole Anderson
\n
Ciena Corporation
\n
+1 (410) 694-5786
\n
pr@ciena.com<\/a><\/p>\n

Investor Contact<\/b>:
\n
Gregg Lampf
\n
Ciena Corporation
\n
+1 (410) 694-5700
\n
ir@ciena.com<\/a><\/p>\n

KEYWORDS:<\/b> Massachusetts Maryland California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Technology Mobile\/Wireless Security Other Technology Telecommunications Software Networks Internet Hardware<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Ciena Makes Strategic Acquisitions in Fiber Broadband Access to Further Address Growing Opportunity at the Network Edge Announces Intent to Acquire Tibit Communications and Acquisition of Benu Networks HANOVER, Md.–(BUSINESS WIRE)–Ciena\u00ae Corporation (NYSE: CIEN), a networking systems, services and software company, today announced that it has entered into a definitive agreement to acquire Tibit Communications, Inc., a privately-held company headquartered in Petaluma, California, and that it has acquired Benu Networks, Inc., a privately-held company headquartered in Burlington, Massachusetts. Tibit and Benu are focused on simplifying broadband access networks through next-generation PON technologies and advanced subscriber management, respectively. Individually and together, Tibit and Benu will complement Ciena\u2019s existing portfolio of solutions for broadband access use cases, including residential broadband, enterprise business … <\/p>\n

Continue reading “Ciena Makes Strategic Acquisitions in Fiber Broadband Access to Further Address Growing Opportunity at the Network Edge”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-714314","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCiena Makes Strategic Acquisitions in Fiber Broadband Access to Further Address Growing Opportunity at the Network Edge - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ciena-makes-strategic-acquisitions-in-fiber-broadband-access-to-further-address-growing-opportunity-at-the-network-edge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ciena Makes Strategic Acquisitions in Fiber Broadband Access to Further Address Growing Opportunity at the Network Edge - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Ciena Makes Strategic Acquisitions in Fiber Broadband Access to Further Address Growing Opportunity at the Network Edge Announces Intent to Acquire Tibit Communications and Acquisition of Benu Networks HANOVER, Md.–(BUSINESS WIRE)–Ciena\u00ae Corporation (NYSE: CIEN), a networking systems, services and software company, today announced that it has entered into a definitive agreement to acquire Tibit Communications, Inc., a privately-held company headquartered in Petaluma, California, and that it has acquired Benu Networks, Inc., a privately-held company headquartered in Burlington, Massachusetts. Tibit and Benu are focused on simplifying broadband access networks through next-generation PON technologies and advanced subscriber management, respectively. 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Tibit and Benu are focused on simplifying broadband access networks through next-generation PON technologies and advanced subscriber management, respectively. 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