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A $75M Buy for TranSwitch
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Business New Haven
9/4/2001
By: BNH
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SHELTON - TranSwitch Corp. (NASDAQ: TXCC) has agreed to buy fellow communications chip maker Onex Communications Corp. for about $75 million in cash and stock, in order to better address the market for next-generation data networks.
TranSwitch, which already owns 16 percent of the Bedford, Mass.-based Onex, said it agreed to pay $20 million in cash and six million? shares of it stock, valued at about $55 million, for the remainder of Onex it did not already own.
TranSwitch officials said the deal would take three to five cents out of its per-share earnings in the fourth quarter. Onex will operate as a subsidiary of TranSwitch.
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