Netgear Snaps Up Illinois Networking Firm For $33.5 Million
SAN JOSE (AP) -- San Jose-based Networking equipment firm Netgear has agreed to buy the customer networking solutions division of Illinois-based Westell Technologies for $33.5 million.
The business to be acquired provides high-speed internet networking products to telephone companies, allowing voice, data, video and other services to stream over existing copper and fiber optic telephone lines.
Westell will retain certain customer relationships and its HomeCloud product line. Otherwise, the deal includes substantially all of the division's assets. The business generated revenue of $39.5 million during 2010.
Westell Technologies is based in Aurora, Ill. It designs, distributes, markets and services broadband equipment, digital transmission, remote monitoring and other products.
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