Ciena Announces Intent to Acquire Cyan
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Needham & Company Maintains Bullish View on Ciena (CIEN) Amid Cyan Deal
May 4, 2015 11:07 AM EDTNeedham & Company maintains a buy rating for Ciena Corp. (NASDAQ: CIEN) with a price target of $26. This comes after Ciena's announcement that the intend to acquire Cyan in a deal valued at $400 million.
Needham & Company analyst Alex Henderson writes, "In our... More
Ciena (CIEN) to Acquire Cyan (CYNI) in $400M Deal
May 4, 2015 7:06 AM EDTCiena (NYSE: CIEN) entered into a definitive agreement to acquire Cyan Inc. (NYSE: CYNI). Under the terms of the agreement, Ciena will acquire all of the outstanding shares of Cyan in a cash and stock transaction currently valued at approximately $400 million (or $335 million, net of estimated cash acquired) and inclusive of Cyans outstanding convertible notes on an as-converted basis.
Ciena is transforming networks by applying web-scale technologies for delivering greater efficiency, network automation and agility while driving the industry toward an open ecosystem, said Gary Smith,... More
Ciena (CIEN) to Acquire Cyan (CYNI) in $400M Deal
May 4, 2015 7:06 AM EDTCiena Corporation (NYSE: CIEN), the network specialist, has entered into a definitive agreement to acquire Cyan Inc. (NYSE: CYNI), a leading provider of next-generation software and platforms to enable open, agile and scalable software-defined networks. Under the terms of the agreement, Ciena will acquire all of the outstanding shares of Cyan in a cash and stock transaction currently valued at approximately $400 million (or $335 million, net of estimated cash acquired) and inclusive of Cyans outstanding convertible notes on an as-converted basis.
Cyan offers SDN, NFV, and metro... More
