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Santa Clara-Based Bay Networks to Pay $59 Million for Andover-Based Lancity.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, September, 1996 by Auerbach, Jon
Sep. 5--Continuing a furious pace of consolidation in the amber-hot computer networking business, Bay Networks Inc. has agreed to pay $59 million in cash for Lancity Corp., a tiny Andover-based company that makes cable modems.
The deal, announced yesterday by Santa Clara, Calif.-based Bay Networks, is part of a broader push among large companies in the estimated $12 billion network equipment industry to round out product offerings through acquisitions and partnerships.
Bay Networks, which makes routers and switches that lash together computer networks, hopes to use the Lancity acquisition as a way to gain a foothold in the incipient field of cable modems, which many analysts believe will become a relatively cheap and easy way to connect to the Internet and...
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