Tellabs announced Friday that it will acquire Ocular Networks for approximately $355 million in cash and options.
Tellabs said that Ocular Networks Optical Service Xchange next-generation transport system would enables it to increase network utilization efficiency and avoid backhauling traffic in the network, offering additional customer savings.
"This acquisition benefits customers by marrying Tellabs unique distribution strength with future network architectures," said Richard C. Notebaert, president and chief executive officer of Tellabs in a prepared statement.
Tellabs acquisition of Ocular Networks is expected to be complete in the first quarter of 2002 and is subject to federal approval.
Earlier this month Tellabs announced it would layoff 1000 employees worldwide, and close two facilities in the U.S.