Occam Networks, a Santa Barbara, Calif., telecom equipment maker, has purchased assets of Terawave Communications, an optical networking company based in Silicon Valley, for $3.2 million.
That’s a pittance, considering Terawave ate through some $170 million in venture capital since 1999.
Terawave, based in Hayward, is shutting down. A host of venture firms poured money into Terawave, including Lightspeed Venture Partners, Walden International, Morgenthaler Partners and Goldman Sachs.
See the statement here.
A snippet:
Terawave is both a leading developer of GPON technology and brings important licensing agreements to Occam Networks,” said Bob Howard-Anderson, Occam’s President and CEO. “The purchase adds GPON MAC and PHY intellectual property to Occam’s solutions suite that offers perhaps the best performance in the industry. It also broadens our market reach to include cable and international arenas.” Among the assets of Terawave acquired by Occam are the following:
- FSAN ITU G.984 GPON interoperable technology,
- Technology focused on GPON physical interfaces,
- Products and technology directed towards Metro Ethernet, and
- Technology license agreements with two leading silicon manufacturers: Ikanos Communications, Inc. and Mindspeed Technologies, Inc.
These technologies and products are designed to comply with relevant ITU-T G.983 and G.984, and MEF standards.
The purchase price paid by Occam for the assets of Terawave included $3.2 million in cash, cancellation of bridge financing of $1.9 million, seller’s legal fees of $0.2 million and the assumption of certain liabilities and purchase commitments of Terawave. Occam will also incur transaction and integration-related expenses in connection with the acquisition.
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