TMCnet News
GENBAND to acquire Cedar Point CommunicationsJan 05, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- GENBAND, Inc., a provider of IP multimedia application and infrastructure products and solutions, has signed a definitive agreement to acquire Cedar Point Communications, Inc., a provider of integrated packet-based voice and multimedia switching technologies. Both the entities are based in the US. The transaction is expected to close in January 2011. Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2011-01-04 Deal Participants Target (Company) Cedar Point Communications, Inc. Acquirer (Company) GENBAND, Inc. Deal Rationale The acquisition of Cedar Point will increase GENBAND's existing market-leading position in cable VoIP market and will add Cedar Point's IP switching solutions to its product portfolio. With 7.5 million lines in service globally, Cedar Point will also add major tier 1 customers to GENBAND's broad customer base. The acquisition will not only increase GENBAND's cable market-share, but it will also enhance its overall offering to meet the unique and demanding requirements of the high-growth cable market. |