Redback Completes Abatis Purchase

Share-based deal for vendor of Subscriber Management Systems is worth $636 million

October 3, 2000

1 Min Read

SUNNYVALE, Calif. -- Redback Networks Inc. (Nasdaq:RBAK - news), a leading provider of advanced networking solutions, today announced it has completed its acquisition of Abatis Systems of Vancouver, Canada, a transaction valued at U.S. $636 million. Abatis Systems is now a subsidiary of Redback Networks, Inc. and called Redback Networks Systems Canada, Inc. John Seminerio, the former chief executive officer of Abatis Systems, is general manager of the new subsidiary and a vice president of Redback Networks and will report to Vivek Ragavan, president and chief executive officer of Redback Networks.

"Service providers are challenged to offer value-added services, such as on-demand video, because today's networks were originally designed for basic connectivity, not the complex operations that services require." Ragavan said. "This acquisition marries intelligent control software and network-aware architecture, removing the limitations to dynamic service provisioning."

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