BOSTON (03/03/2000) - Triton Network Systems Inc. is buying IBM Corp.'s broadband modem product line for 5.5 million shares of Triton stock.
Triton, which provides broadband fixed wireless network products, announced the deal in a written statement today. Besides obtaining the assets of the IBM line, Triton, based in Orlando, Florida, also will gain about 50 employees who work on the IBM products, which are part of the company's Microelectronics Division, as well as intellectual property.
The deal, involving Triton's series C preferred stock, must be approved by regulators.
Triton, in Orlando, can be reached at +1-407-903-0975 or http://www.triton-network.com/. IBM, in Armonk, New York, can be reached at +1-914-765-1900 or http://www.ibm.com/.