Thursday, October 30, 2008

Ciena Solutions Acquired By NetSol Technologies

Los Angeles-based Ciena Solutions LLC, a provider of SAP integration management services, has been acquired by NetSol Technologies. NetSol, which provides business outsourcing and enterprise application development, did not disclose financial terms of the buy. According to NetSol Technologies, the buy was a combination of cash and restricted stock. NetSol said the acquisition will allow it to launch a global SAP practice; Ciena's customers include such firms as Southern California Edison and Ticketmaster. Ciena Solutions also has a branch office in San Ramon, California. NetSol Technologies is based in Emeryville, California.