Tellabs declares special dividend of $1 per share

Today the Tellabs Board of Directors declared a special cash dividend of $1.00 per share. The dividend is payable on Dec. 21 to stockholders of record as of the close of business on Dec. 14.

The special dividend is in addition to a stock repurchase announced on Nov. 20. Tellabs intends to repurchase its common stock under an existing Board of Directors authorization, previously announced on Nov. 8, 2007. The company may repurchase up to $224.6 million (about 22.5% of shares outstanding at the Nov. 19, 2012, closing price) under the previously announced repurchase program. 

The stock repurchase follows guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934. The repurchase program involves the purchase of common shares from time to time at the prevailing market price.

DragonWave Closes Acquisition of Nokia Siemens Networks' Microwave Transport Business in China

DragonWave Inc. (DWI.TO)(DRWI) a leading global supplier of packet microwave radio systems for mobile and access networks, today announced that the company has completed the transaction to acquire certain Chinese operations of Nokia Siemens Networks'' microwave transport business in China as all Chinese regulatory requirements have been met.

Approximately 100 employees of Nokia Siemens Networks based in Shanghai have transferred to DragonWave. "We want to welcome our new colleagues in China to the DragonWave team" said Peter Allen, DragonWave President and CEO. As previously communicated, the overall closing of the transaction took place on June 1, 2012.

Riverbed to Acquire OPNET Technologies, Inc.

Riverbed Technology (NASDAQ: RVBD), the performance company, and OPNET Technologies, Inc. (NASDAQ: OPNT), the leading provider of solutions for application and network performance management, today announced that Riverbed® has entered into a definitive agreement to acquire OPNET for $43 per share in cash and stock, representing an equity value of $1 billion and an enterprise value of $921 million. The acquisition will enable Riverbed to extend its network performance management (NPM) business into the multi-billion dollar application performance management (APM) market. The combination of Cascade® and OPNET will create a new force in the converged market for NPM and APM, with over $250 million in annualized revenue.

TeleCommunication Systems Reports Third Quarter 2012 Results

Revenue Up 24% to Record $140 Million, Driving Record Gross Profit of $44 Million

TeleCommunication Systems, Inc. (TCS) (TSYS), a world leader in highly reliable and secure mobile communication technology, reported results for the third quarter ended September 30, 2012.

Third Quarter 2012 Results as Compared to the Same Year-ago Quarter

• Revenue was up 24% to a record $140.1 million
• Gross profit was up 18% to a record $44.1 million
• EBITDA (Earnings before interest, taxes, depreciation, amortization and non-cash stock-based compensation) was $15.1 million, 2% higher than the year-ago quarter (see discussion about the presentation of EBITDA and Adjusted net income, both non-GAAP terms, below)

  Published: 26 October 2012

  Written by Editor

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