C-COR adds Optinel to IP quiver
Continuing the hunt to expand its cable products portfolio, C-COR Inc. has acquired Elkridge, Md.-based optical Ethernet transport provider Optinel Systems Inc. for $9.5 million, plus assumption of certain liabilities.
The agreement calls for payment of an added $6 million in cash if Optinel sales objectives are reached in the 13-month period following the closing. If that is completed, Optinel will become part of C-COR's broadband communications products business segment, generating an estimated $7 million in net sales annually.
It is the latest in a string of acquisitions for State College, Pa.-based C-COR this year. In July, it closed a deal to buy bandwidth management outfit Stargus Inc., and in June, it wrapped up a deal to buy Lantern Communications Inc., a Resilient Packet Ring (RPR) specialist. It also snapped up service acquisition systems provider Alopa Networks in May.
Optinel's optical technology portfolio, which includes Gigabit Ethernet transport modules, dense wave division multiplexing and coarse wave division multiplexing products, fits well with C-COR's aim to fill out its next-generation cable technology lineup, according to C-COR Chairman and CEO David Woodle.