Tellabs, which manufactures switching equipment for conventional telephone networks, has agreed to buy voice and Internet switch maker Salix for $300 million in stock.
The acquisition is intended to help Tellabs go after the Internet Service Provider and competitive local exchange carrier market, and is expected to close in the first quarter.
Dan Simpkins, Salix's president and chief executive will head Tellabs' new adaptive network solutions division, and all of Salix's 80 staff will be retained.
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