Netgear to buy Westell Technologies' CNS division2011-03-22 13:07 by DanielaTags: Netgear, Westell Technologies
Netgear Inc. said Friday it has agreed to buy the customer networking solutions division of Westell Technologies Inc. for $33.5 million. The business to be acquired provides high-speed internet networking products to telephone companies, allowing voice, data, video and other services to stream over existing copper and fiber optic telephone lines. Westell will retain certain customer relationships and its HomeCloud product line. Otherwise, the deal includes substantially all assets of the CNS division. The business generated revenue of $39.5 million during 2010. The acquisition is subject to various customary closing conditions, including the execution of certain third-party consents, and is currently expected to close in Netgear's second fiscal quarter. Netgear will fund the deal with cash out of existing reserves. Read more -here-
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