ACQUISITION NEWS FROM INFORMATIONWEEK ONLINE ( CMP Publications ):
This might put some perspective on Ancor's $20 million market cap. Packet Engines is known as one of the leading edge Gigabit Ethernet start-ups..interesting that Packet Engines hails from Spokane, WA ( the boonies )as opposed to Silicon Valley:
Tuesday, October 13, 1998
Alcatel To Acquire LAN Switch Vendor
Alcatel yesterday agreed to acquire Packet Engines Inc., a maker of
switches and routing-switches for LANs, for about $315 million. The
move is part of the French telecommunications company's strategy to
enter the U.S. data-networking market.
Packet Engines, in Spokane, Wash., and founded in 1994, was one of
the first companies to offer Gigabit Ethernet switches and network
interface cards. The company's higher- end switches, called the
PowerRail family, which just began shipping, are Layer 3 switches,
meaning they also have the ability to do basic routing of network traffic.
Alcatel is hoping to offer these LAN products to complement its
telecommunications equipment, such as Sonet transmission systems
and PBXs, sold to large corporations, carriers, and Internet service
providers.
Packet Engines will retain its name and location. Krish Prabhu,
president and CEO of Alcatel USA Inc., will be chairman of the
company. Bernard Daines, founder of Packet Engines, will remain as
CEO.
--Monua Janah |
