Carrier Access to go to Turin in $92.7M deal

Turin Networks Inc. plans to acquire Carrier Access Corp. for around $92.7 million in cash. Under terms of the deal, stockholders will receive $2.60 for each outstanding share of Carrier Access’ common stock, a 14.7% premium over the company’s 20-day average stock price of $2.27 through Dec. 14.
“The driver for Turin’s significant growth over the past year has been carriers’ increasing infrastructure investments to accommodate wireless data traffic and expanded Ethernet service offerings,” said Henry Wasik, CEO of Turin Networks. “The Carrier Access acquisition leverages our strengths in wireless, as well as converged IP networks, and enables Turin to offer comprehensive solutions that extend to the edge of the service provider network.”
The combined companies create a unified solution for mobile backhaul, fixed-mobile convergence (FMC) and converged business service delivery, according to Turin Networks.
Carrier Access’ portfolio ranges from wireless backhaul to converged-access technologies. The company has more than 100 customers, including wireless and wireline carriers, cable operators, enterprises and government agencies.
The sale has been unanimously approved by both companies’ boards, and is subject to approval by Carrier Access’ stockholders. The acquisition is expected to close in the first quarter of next year.