CIENA Announces Completion of WaveSmith Transaction.Business Editors/High-Tech Writers LINTHICUM, Md.--(BUSINESS WIRE)--June 16, 2003 CIENA Corporation Ciena Corporation NASDAQ: CIEN develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CIEN CIEN Ciena Corporation (stock symbol) ), a leading provider of global network solutions, today announced it completed its acquisition of WaveSmith Networks, Inc. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the agreement announced April 9, 2003, CIENA acquired all outstanding shares of WaveSmith and assumed all outstanding options and warrants in exchange for approximately 36 million shares of CIENA common stock. Excluding the value of CIENA common stock issuable to CIENA as a result of a previous investment in WaveSmith, the price paid in the transaction was approximately $178 million, based on the closing price of CIENA's common stock on Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant , June 13, 2003. ABOUT CIENA CIENA Corporation delivers innovative network solutions to the world's largest service providers, increasing the cost-efficiency of current services while enabling the creation of new carrier-class data services built upon the existing network infrastructure. Additional information about CIENA can be found at www.ciena.com. |
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