Ciena Corporation (NYSE:CIEN) acquired Benu Networks, Inc. on November 17, 2022.

Ciena Corporation (NYSE:CIEN) completed the acquisition of Benu Networks, Inc. on November 17, 2022. In a related transaction, Ciena acquired Tibit on December 30, 2022. These businesses were acquired for an aggregate of approximately $291.7 million, net of $14.634 million cash acquired, of which $244.7 million was paid in cash and $47.0 million represents the fair value of Ciena's previously held cost method equity investment in Tibit. As on December 2, 2022, William Intner of Hogan Lovells US LLP acted as advisor to Ciena Corporation.