Tech Company M&A Transactions
Akara Acquisition
On 8/21/2003, Akara was acquired by Ciena. Ciena said the transaction price was $45 million.
Transaction Overview
Company Name
Acquired By
Announced On
8/21/2003
Transaction Type
M&A
Amount
$45,000,000
M&A Terms
Under the terms of the acquisition agreement, Akara will merge with a wholly-owned subsidiary of Ciena, and all remaining outstanding shares of Akara common and preferred stock will be exchanged for an aggregate consideration of $45 million consisting of $31 million in cash and $14 million in shares of Ciena common stock. The number of Ciena shares to be issued will be determined based on the average closing price of Ciena common stock on the Nasdaq Stock Market on the ten trading days preceding the closing date.
Company Information
Company Status
Acquired or Merged
Industry
Storage
Mailing Address
150 Katimavik Rd. 2000
Kanata, K2L 2N2
Canada
Kanata, K2L 2N2
Canada
Phone
Website
Email Address
Not Recorded
Overview
Akara, the Storage over SONET market leader, is the only equipment supplier with a singular focus on extending business continuance applications between data centers with the lowest MByte per mile cost across existing MAN/WAN networks.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Co-Founder
Soloon Wong
Browse more venture capital transactions:
Prev: 8/20/2003: Biolex venture capital transaction
Next: 8/22/2003: Valere Power venture capital transaction
Share this article
Where The Data Comes From
We do our best to report on every notable VC transaction. VC investment data records on this site are sourced from news reports and company announcements. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
Additional Resources for Entrepreneurs