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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: THOMAS GOODRICH who wrote (18573)	10/14/1998 12:43:00 AM
From: Kerry Lee	Read Replies (1) \| Respond to of 29386

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