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PETACH-TIKVA, Israel-ECI Telecom signed a definitive agreement to acquire Laurel Networks, which provides IP/MPLS multiservice edge routers.
ECI said the acquisition will add edge routing and IP service capabilities to its broadband, optical and core routing portfolio. The company will pay $88 million in cash for Laurel, according to the agreement. The deal is expected to close within a few weeks.
Pittsburgh-based Laurel has received $118 million in funding since its founding in 1999. The company has 150 employees and $9 million in cash. Its total sales during the last year were $18 million.
Laurel will become ECI’s data networking division.
