Redback Networks, Inc. (RBAK) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Redback Networks, Inc. (RBAK)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Winston Lee who wrote (1304)	11/29/1999 1:55:00 AM
From: 2MAR$	of 1956

(REUTERS) Redback to acquire Siara in $4.3 billion deal- NYT NEW YORK, Nov 29 (Reuters) - High-speed Internet access equipment supplier Redback Networks Inc. <RBAK.O> is acquiring networking and software company Siara Systems for about $4.3 billion in stock, the New York Times reported on Monday. Redback seeks to use optical networking equipment and software being developed by privately held Siara to sell a wider range of products that make it easier to send information across high-speed, or broadband, networks. Siara currently sells no products, but is expected to begin testing some in mid-2000. The combined company will keep the Redback name, and Siara Chief Executive Vivek Ragavan will be named president of the combined operation, the report said. Redback shareholders will own 62 percent of the new company and Siara stakeholders will own 38 percent. The boards of both companies approved the deal, the report said. ((--New York Newsdesk (212) 859-1700)) REUTERS

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next