Thursday, September 27, 2007

Terawave Communications Sells Assets

Hayward, California-based Terawave Communications has sold off technology to a broadband telecommunications firm, in a $3.4M cash deal. Occam Networks, which is based in Santa Barbara, California, said Thursday evening that it is acquiring GPON technology assets from Terawave, and will pay $3.4M in cash plus forgive $1.9M in bridge financing from the firm. Assets included in the deal included FSAN ITU G.984 GPON technology, Metro Ethernet products, and license agreements with semiconductor firms Ikanos and Mindspeed. Occam said that it plans to make employment offers to certain employees of Terawave as part of the deal. Terawave is backed by Alta Partners, Interwest Partners, Lightspeed Venture Partners, and Walden International.