Tejas Networks Ltd, a Bangalore-based company engaged in the manufacturing of optical networking products, is looking to buy Ethos Networks, an Israeli startup. The transaction is likely to happen in a share-swap deal where investors of Ethos will get shares of Tejas, reports Economic Times.
Ethos is a technology company specialising in carrier ethernet and network management products. Following this deal, the existing staff of Ethos will be integrated with Tejas Networks’ global workforce, the report adds. The acquisition is likely to strengthen Tejas’ product offerings in the packet optical space, and enhance its future proof transport architecture solution.
Tejas is one of those investor-friendly technology firms in India that raised private equity funding in seven instances so far starting 2000. The company has raised funding from private equity giants including Goldman Sachs, Intel Capital, Sandstone Capital LLC, Mayfield Fund, and India Industrial Growth Fund. The total disclosed funding raised is worth $73 million across five transactions, according to deal data on VCCEdge, the research platform of VCCircle.
“The acquisition completes our portfolio in offering best-in-class, end-to-end multi-service solution for synchronous optical network (SONET) and synchronous digital hierarchy (SDH), carrier ethernet and hybrid transmission architectures and a seamless network management software (NMS) suite,” the report said, quoting Sanjay Nayak, CEO, Tejas Networks.
Tejas is a carrier grade communications equipment manufacturer. It designs, manufactures and maintains active telecom equipments, which are used by its clients globally. Besides India, it has operations across USA, Singapore, Middle East and Malaysia. Tejas claims a market presence across 50 countries around the world.