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Israeli Group Buys Laurel Networks For $88 million

LONDON — Israeli telecom equipment supplier ECI Telecom has acquired Edge router and broadband remote access server specialist Laurel Networks for $88 million in cash.

ECI said earlier this year it intends to grow through acquisitions, hence, other deals are expected over the next 12 months.

Pittsburgh-based Laurel specializes in IP/MPLS multiservice Edge routers that will extend ECI's broadband, optical and core routing portfolio, enabling it to enhance its systems functionally and create complete multiservice IP solutions for service providers.

Laurel recently refocused its efforts on the video-enabled networks market, which is growing fast, especially in Europe.

Laurel was founded in 1999. It has since attracted $118 million in venture capital financing from leading U.S. funds, including NEA & Trinity Ventures and Ciena Corp. Most of the funding was used for the development of its multiservice Edge routers.