Catena Networks Inc. is replacing WaveSmith Networks on Light Reading's Top Ten Private Companies list (the list can be seen at the bottom right of the LR home page here). WaveSmith was was recently acquired by Ciena Corp. (Nasdaq: CIEN) (see Ciena Nabs WaveSmith).

For now, Catena will take WaveSmith's spot at #3. But a major overhaul of the list is coming soon to reflect major changes in the market.

Why is Catena being added? First, it's been well-funded (see Ka-Ching for Catena Networks). Second, it's got customers, too, including some new biz with BellSouth Corp. (NYSE: BLS) (see Catena Cozies Up to RBOCs). And it plays in the all-important access space.

We also hear that major systems companies have started sniffing around Catena for a potential snack. Keep an eye on Light Reading next week, as news is coming on that front.

For Catena's full writeup, see Catena Networks.

— R. Scott Raynovich, US Editor, Light Reading