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Tellabs Cops Ocular

Has completed its acquisition of Ocular Networks for $355 million in cash and options

January 15, 2002

2 Min Read

NAPERVILLE, Ill. -- Tellabs (Nasdaq: TLAB) completed its acquisition of Ocular Networks, enabling it to help service providers manage metropolitan traffic all the way to the edge of the network. Through this acquisition, Tellabs adds three new products to augment its strong portfolio of digital cross-connect and transport switching systems, helping customers lower costs and speed revenues. The completion of the Ocular acquisition follows Tellabs' receiving all necessary government approvals. "Now we can help our customers optimize network efficiency all the way to the edge of the network," said Richard C. Notebaert, president and chief executive officer of Tellabs. "By combining these next-generation products with Tellabs' strengths, our customers gain new optical networking applications that manage their metro traffic needs simply and cost- effectively." Through the acquisition, Tellabs complements its Tellabs(R) 5000 digital cross-connect systems and Tellabs 6000 transport switching series with the new Tellabs 6400 line of products, which increases network utilization efficiency in Tier 2 and Tier 3 offices. The new Tellabs 6400 transport switching line of products helps carriers open new revenue streams from Ethernet over SONET (synchronous optical network), and dramatically lower capital and operating costs.Tellabs paid $355 million in cash and options for privately-held Ocular Networks. Tellabs will retain the Reston, Va., office location for employees who are developing the Tellabs 6400 series of transport switching products. Ocular Networks will now be the Tellabs Metro Networking Group led by Ed Kennedy, senior vice president, who will report to Richard C. Notebaert, president and chief executive officer of Tellabs. Jeff Schmitz has been named the vice president of product development for the Tellabs Metro Networking Group and will report to Ed Kennedy. Other changes related to the acquisition include the creation of a new department for product strategy and portfolio management, which will be led by Scott Steele, vice president of Product Strategy and Portfolio Management. Steele will report to Steve McCarthy, senior vice president of Global Marketing. In addition, Harvey Scull, vice president of Tellabs' Network Technologies Group, will now report to Tom Gruenwald, senior vice president and general manager of Tellabs' Broadband Access Group.Tellabs Inc.

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