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TAGGED AS TERAXION

TeraXion sells division to Ciena

telecom | 01/19/2016 6:49 pm EST

Quebec City's TeraXion said Tuesday that it has sold its high-speed photonics components division to networking technology company Ciena Corp. TeraXion said in a press release the assets and related intellectual property of this business are being sold for $46.6 million in cash. It said Ciena intends to "maintain critical design and innovation resources in Quebec City" while using the acquisition to "bolster" Ciena's existing R&D centre in Ottawa. Ciena is headquartered in Hanover, Md. TeraXion said it would continue operations in Quebec City related to fibre-optic communications, fibre lasers and optical-sensing applications....