Turin Networks buys Carrier Access for $92.7M
Turin Networks, a Petaluma, Calif. provider of networking equipment, will buy Carrier Access, a struggling company in Boulder, Colo. that is publicly traded on the Nasdaq exchange.
Although Turin has agreed to pay about $2.60 per share for Carrier Access, that amount could be lower if the latter company has less than $63 million on its balance sheets when the acquisition is finalized.
A number of venture firms have invested in Turin over the years, including Baker Capital, DCM, Sequoia Capital and Tudor Ventures. More from the press release on Carrier Access:
Carrier Access, with facilities in Boulder, Colorado and Shanghai, China, has a base of over 100 customers which includes major Tier 1 wireless and wireline carriers, cable operators, enterprises and government agencies. The Carrier Access product portfolio includes solutions that span the wireless backhaul network from the cell-site to the network edge, as well as converged access technologies that enable service providers and enterprise customers to deliver carrier-quality IP voice and data services.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.