Sources inform ''Globes'' that Israeli start-up Atrica Inc. is in advanced negotiations to be acquired by Nokia Siemens Networks for $100 million. Sources reports that a deal with Nokia Siemens will be closed soon.
Ethernet solutions company Atrica is a record holder for capital raised. According to IVC Online, it has raised $182 million since it was founded in 2000. The company’s cash burn rate is especially ferocious because of the high cost involved in the development of optical systems, including ASIC processors.
Besides Nokia Siemens, Atrica has frequently been mentioned as a takeover target of major companies, including Fujitsu (TSE:6702) and Juniper Networks Inc. (Nasdaq:JNPR), but none of the rumors were correct. So far as is known, the company has tens of millions of dollars in sales a year, and considered an IPO on Nasdaq several times.
Atrica was founded by Avinoam Rubinstain, Zvika Bronstein, and Amir Lahat. The company develops carrier Ethernet transport solutions to service providers delivering Metro Ethernet services.
Published by Globes [online], Israel business news - www.globes.co.il - on September 11, 2007
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