Redback Networks, Inc., (NASDAQ: RBAK), a leading provider of advanced networking solutions, today announced that it has completed its merger with Siara Systems of Mountain View, California, in a transaction valued at $4.3 billion.

The merged company retains the name of Redback Networks, and global headquarters remain in Northern California. The company will retain Siara's Vancouver, B.C.-based software development facility as a second research and development center.

Dennis Barsema will remain chief executive officer of Redback, while Vivek Ragavan will become the Company's president and chief operating officer. Craig Gentner continues as Redback's senior vice president of finance and chief financial officer.

The Company also announced that its Board of Directors has approved a two-for-one split of the Company's outstanding shares of common stock. The stock split will be effected in the form of a stock dividend and will entitle each stockholder of record at the close of business on March 20, 2000 to receive one share for every outstanding share of common stock held on the record date. The stock dividend will be distributed on April 3, 2000. Redback Networks Common Stock will begin trading on a split-adjusted basis on April 4, 2000.

http://www.redback.com