Venture capital firms to sell WiChorus to Tellabs

Fri. October 23, 2009; Posted: 02:32 PM

Oct 23, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- TLAB | Quote | Chart | News | PowerRating -- Mayfield Fund, Redpoint Ventures and Accel Partners have agreed to sell their stakes in WiChorus, Inc., a provider of hardware and software solutions for the deployment of WiMAX and 4G wireless core networks, to Tellabs, Inc. for approximately $165 million in cash. All the parties involved in the transaction are based in the US.

Tellabs is a designer and marketer of equipment to telecommunication service providers, while Mayfield Fund is a venture capital fund, and Redpoint Ventures and Accel Partners are venture capital firms.

The Board of Directors of Tellabs and WiChorus have approved the proposed transaction.

Deal Value (US$ Million) 165
Deal Type                Venture Finance
Sub-Category             Exit
Deal Status              Announced: 2009-10-22

Deal Participants

Target (Company)   WiChorus, Inc.
Acquirer (Company) Tellabs, Inc.

Deal Rationale

The acquisition will complement Tellabs' growth solutions portfolio including its mobile, optical and business solutions. The combination will create advanced 3G/4G mobile networks that revolutionize the mobile internet, deliver new applications to generate revenue and to achieve significant savings for mobile carriers.

For full details on Tellabs Inc (TLAB) click here. Tellabs Inc (TLAB) has Short Term PowerRatings of 6. Details on Tellabs Inc (TLAB) Short Term PowerRatings is available at This Link.

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