Ribbon Communication to Acquire ECI Telecom for around $455 Million
Israeli businessman Shaul Shani is the controlling shareholder in ECI, having bought his stake in two deals in 2007 and 2014
Headquartered in Westford, Massachusetts, Ribbon has a market capitalization of $448.4 million. ECI, founded in 1961, was considered an industry leader in the 1990s with a market capitalization of around $4 billion at its peak, but has since weakened. The company planned a London IPO in 2018, looking to raise $230 million, but backtracked.
Following the merger, the combined entity will have annual revenues of over $900 million, according to the announcement.