The switching market was shaken up again yesterday as Ascend bought Whitetree in a $68 million share swap deal.
Competition in the switching market is reaching an all-time high as rivals bring out their offerings to reduce the cost of Internet and Intranet systems. The transaction will be accounted for as a pooling of interests. That means Ascend should qualify as a tax free organisation.
There will also be a swapping of executives, the report said. Whitetree?s chief executive, Maureen Lawrence, will become executive vice president of marketing.
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