Agere Systems has acquired Massana, a start-up developing Gigabit Ethernet-over-copper physical layer device (PHY) technologies, for approximately 9.1 million shares of Agere Class A common stock, valued at about $26.2 million, based on the closing price on 22-August-2003. Agere said the acquisition enables it to deliver GbE PHYs to Ethernet switch providers as well as PC and server OEMs. With the acquisition, Agere plans to deliver a next-generation 0.13 micron single PHY product in early 2004 and an octal in mid-2004. Approximately 45 Massana employees will join Agere.
http://www.agere.com
- Massana is based in Palo Alto, California, with design centers in Dublin, Ireland and in Madrid, Spain.
