Bay Networks has acquired NetICs, a little known company that develops auto-sensing Fast Ethernet switches, for stock swaps worth $55 million plus $44 million in cash.
NetICs? technology will be used for 10/100mbps Ethernet switches and will provide next generation Asic technology for other Bay products.
Products that offer speeds of 10/100Mbps allow users to evolve from segment switching to 10Mbps and then 100Mbps Ethernet switching without replacing the actual switch. Bay expects to release an auto-sensing 10/100Mbps Ethernet device in the first quarter of this year for below $250 per port. NetICs was established in 1995 to develop Fast Ethernet products. It will continue to work as an independent operating group within Bay's enterprise business unit.
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