Tellabs, once a big player in the networking world, announced today that it’s selling to a private equity firm — a sign of just how far the company has fallen.

Marlin Equity Partners is snapping up Tellabs for $891 million in cash, paying $2.45 a share for the company (just 4.3 percent above its Friday closing price). That’s a far cry from the $2 billion in annual revenue the company saw during the first dot-com boom.

Tellabs offers a variety of technology to improve the speeds of wireless and wired networks. Its mobile backhaul solution lets companies migrate to LTE and LTE-Advanced networks easily, while its optical networking technology lets carriers spread their networks to remote areas without losing bandwidth. Its customers include the likes of Vodafone, T-Mobile, and Verizon.

Last December, Marlin purchased Nokia Siemen’s optical networks business. Taken together with today’s Tellabs deal, it’s clear that the firm is gearing up for another big networking boom.

“Tellabs’ Board of Directors arrived at the decision to enter into a transaction with Marlin after a thorough review of Tellabs’ strategic alternatives and after more than 30 potential buyers, both strategic parties and financial sponsors, were contacted as part of a competitive bidding process,” said company chairman Vince Tobkin.

Tellabs was founded in 1975 in Naperville, Illinois.