Ciena’s latest acquisition will help the Maryland-based company “bolster” its R&D centre of excellence in Ottawa, it said Tuesday.
The networking equipment maker announced it has struck a $CA46.6-million deal with TeraXion that will see it acquire the Quebec City company’s high-speed photonics components division.
While this means a boost for Ciena’s facility in Ottawa, the firm’s director of corporate communications, Jamie Moody, said it was too early to know specifics.
(Sponsored)
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
Invest with confidence: Hydro Ottawa funds technical studies for business retrofits
For Ottawa businesses, the opportunity to improve building performance has never been greater. Energy retrofits can cut emissions, strengthen operations, extend the life of assets, reduce operating costs, and position
“TeraXion employees based in Quebec City will remain in that location. And, over time we will welcome Ottawa-based TeraXion employees to Ciena’s Ottawa location,” Ms. Moody wrote in an email.
TeraXion’s president and CEO, Alain-Jacques Simard, said the deal is a “testament” to the value his company has created in its HSPC technologies.
“Being part of Ciena will provide the scale needed to accelerate the development of the HSPC technologies and will enable the continued development of highly differentiated solutions for Ciena’s customers,” he said in a statement.
Ciena’s senior vice-president of networking platforms, Scott McFeely, said the acquisition will help it develop “differentiated solutions” for its customers.
“This acquisition also reinforces our commitment to serving as a growth and innovation engine in Canada, which is home to our largest employee base and more than 50 percent of our global research and development team,” he said in a statement.
