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Technology Stocks : INTERPHASE(INPH): Good future for this stock -- Ignore unavailable to you. Want to Upgrade?

To: peter a. pedroli who wrote (721)	12/19/2000 10:03:00 AM
From: peter a. pedroli	Read Replies (1) \| Respond to of 825

consolidation continues... Tuesday December 19 9:20 AM ET Ciena To Buy Cyras for $2.6 Billion LINTHICUM, Md. (AP) - Ciena Corp. plans to buy networking-equipment maker Cyras Systems Inc. in a deal worth $2.6 billion. Ciena said Tuesday it will acquire all outstanding shares of Fremont, Calif.-based Cyras in exchange for 27 million shares of Ciena common stock. Cyras is privately-held. Cyras' metropolitan networking equipment will complement Ciena's long haul network gear, said Ciena spokesman Aaron Graham. ``What our current product does is switch traffic along interstate highways,'' Graham said. ``What we are getting into now is switching the traffic that is within beltways of cities.'' Ciena said it will also assume $150 million of Cyras debt and expects the purchase will qualify as a tax-free transaction. Ciena said it plans to close the transaction in the first quarter of 2001. Ciena recently reported fourth-quarter earnings of $25.8 million, five times higher than the $4.5 million the company earned during the same period of 1999