CIENA Corporation (NASDAQ:CIEN) has been cleared by the bankruptcy court to acquire a nut of Nortel Networks for $769 million. The company recently fought off a legal battle with Nokia Siemens Networks. The acquisition is expected to close during the first quarter of 2010.
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Ciena Corporation provides communications networking equipment, software and services to support the transport, switching, aggregation and management of voice, video, and data traffic. Ciena products and services enable service providers to deliver critical enterprise and consumer oriented communication services. The company acquired World Wide Packets, Inc. on March 3, 2008.
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