Zhone to Purchase Rival Paradyne

Zhone Technologies Inc. says it will acquire rival broadband equipment maker Paradyne Networks Inc. for nearly $200 million.

Each company’s stockholders still must approve the transaction, which the companies expect to close sometime this fall.

Zhone expects the buyout to expand its customer base to include 12 of the top 25 IOCs in the United States, as well as some key cable operators and CLECs. The combined company will employ workers in 21 countries.

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