ADC Telecommunications said it will sell its non-voting minority stake in Redwood City private company BigBand Networks Inc. back to the company for $58.9 million, VentureWire reported.
According to the report:
ADC Telecommunications, a telecommunications software and equipment maker based in Eden Prairie, Minn., acquired a 12 percent stake in BigBand in 2004 as part of its sale of a cable modem termination system product line and software to BigBand, according to a filing with the Securities and Exchange Commission.
(Originally posted 1/30)
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