Just click on the webcast of your choice to register:
Explore Business Intelligence Open Source Offerings
October 26, 2006--1:00pm EDT, 10:00am PDT
Join us and learn how the Business Objects XI platform embraces open source software (OSS) through its broad business intelligence (BI) offerings. Built on an open platform that can match disparate technologies environments deployed by application providers, Business Objects leads the BI industry by supporting OSS from Red Hat Linux and SuSE Linux operating systems, MySQL database and Eclipse IDE.
Register Now >Transformation as an Enterprise Service
October 24, 2006--11:30am ET, 8:30am PT
Learn how to achieve interoperability between otherwise incompatible enterprise content management systems and transform legacy business functions to agile, SOA-enabled solutions. Register for this October 24th webcast, sponsored by Xenos. Register Now >Storage Strategies for Small Businesses November 7, 2006--2 p.m. EST, 11 a.m. PST
When it comes to storage, small and medium businesses have a lot in common with large enterprises. Just like the Fortune 400, they need to ensure that data is backed up, retrievable and secure, and that data access complies with governmental regulations. Unfortunately, if you are a small business owner you also cope with some challenges the big guys don't have, budgets are small and your IT staff, if you even have one, may not have storage-specific expertise. Attend this webcast and learn storage strategies to meet your growing business demands. Register Now >
Sorrento Networks, a San Diego-based supplier of optical networking equipment for carriers and enterprises, today announced that it has successfully closed the acquisition of LuxN Inc. (Sorrento had announced on June 26 its plans to acquire LuxN).
LuxN supplies optical access equipment for the network edge using coarse wavelength division multiplexing (CWDM) and dense wavelength division multiplexing (DWDM) technology. LuxN's products are designed to enable delivery of high-bandwidth data, storage, video and voice for service providers, cable MSOs and enterprises.
Sorrento reports that the acquisition expands its addressable market by adding best-of-breed optical access products to Sorrento's metro/regional portfolio and enhances its "edge-to-core network offerings." The union also broadens Sorrento's 30-plus blue-chip customer base by adding over 20 new customers including Time Warner Telecom, Hawaii I-Net, Yipes Enterprise Services, and numerous universities.
Sorrento acquired LuxN for a combination of stock, warrants and cash previously held by LuxN, according to a company statement. Stockholders of LuxN were given the option of exchanging shares of LuxN stock for either their pro-rata portion of LuxN's net cash or shares of Sorrento's common stock. Stockholders with an aggregate pro-rata portion of $3.8 million of LuxN's net cash elected to receive Sorrento's common stock, Sorrento reports. In addition to the cash or Sorrento common stock, stockholders of LuxN have the right to receive warrants to purchase an aggregate of 400,000 shares of Sorrento common stock, with an exercise price of $3.05 per share. The warrants will be held in escrow for a period of six months to satisfy any successful indemnification claims.
"Besides facilitating new revenue, the merger enhances Sorrento's balance sheet with additional cash, marketable inventory, and an increase in stockholders' equity," commented Joe Armstrong, CFO of Sorrento Networks. "Given that LuxN has invested over $125 million in the past five years to develop its products and customer base, Sorrento is fortunate to acquire them on such attractive terms."
Tom Alexander, president and CEO of LuxN, will take a lead role in the integration of the two firms, according to Sorrento. "We are now able to address networking needs from the edge to the core 3 which is what customers increasingly want. We are better positioned to compete with larger vendors and win new business as the telecom market recovers."
Images
