Israeli firm ECI supplies end-to-end packet-optical transport and SDN/NFV options for service suppliers, enterprises, and information heart operators.
US software program firm Ribbon Communications Inc. (Nasdaq: RBBN) has introduced that it has accomplished its acquisition of Israel’s ECI Telecom Group. Primarily based in Petah Tikva, ECI supplies end-to-end packet-optical transport and SDN/NFV options for service suppliers, enterprises, and information heart operators.
Ribbon, which supplies safe and clever cloud communications software program options, is paying ECI’s shareholders $324 million money plus 32.5 million Ribbon shares, bringing the overall of the deal at Ribbon’s share worth at present to $463 million. The deal was value $485 million when first introduced in November however since then Ribbon’s share worth has fallen.
Ribbon president and CEO Bruce McClelland mentioned, “Our expanded product providing combines ECI’s management in packet optical networking with our present confirmed portfolio of software-based, real-time communications safety, analytics and digital transformation options. Our new group will leverage the energy and presence of our international gross sales power to create a really formidable market chief within the communications trade.”
Based in 1961, ECI is a veteran communications gear developer managed by Israeli businessman Shaul Shani. It lately failed in its try to carry a flotation on the London Inventory Trade.
Printed by Globes, Israel enterprise information – en.globes.co.il – on March 4, 2020
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