Business Services Industry
Billeric, Ma.-Based Bay Networks Wants to Supply Hardware in Internet Access.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, June, 1996 by Bray, Hiawatha
Jun. 19--By acquiring a Maryland modem maker, Bay Networks of Billerica aims to become a major hardware supplier in the Internet access business.
On Monday, the company announced it would buy the digital signal processing modem business of Penril Datability Networks of Gaithersburg, Md. Bay Networks will exchange $10 worth of its stock for each share of Penril stock, in a transaction worth about $120 million. The deal should be finalized in mid-September, but technology exchanges between the two firms have already begun.
Bruce Sachs, executive vice president and general manager of Bay Networks' Internet/Telecom business unit, said ownership of a modem maker will enable Bay to offer customers a more complete line of hardware products.
Digital signal...
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