Sonus Networks Boosts Portfolio with Performance Technologies Acquisition
Page 1 of 1
Sonus Networks announced last friday its intention to acquire Performance Technologies for approximately $30 million. Sonus will be paying $3.75 per Performance Technology share (NASDAQ:PTIX). The deal is expected to close in the first quarter of 2014.
"Today's mobile broadband traffic nearly eclipses all Internet activity from just a decade ago, driving the necessity for intelligent and capable Diameter Signaling Controllers that will allow mobile operators to efficiently deploy 4G/LTE," said Raymond P. Dolan, president and chief executive officer of Sonus in a statement.