Polycom Sells Network Access Product Line to Verilink

Polycom has sold its line of "NetEngine" integrated access devices (IADs) to Verlink for up to $3 million. The deal provides for $1 million in upfront cash an additional $250,000 upon the one-year anniversary of the closing and up to $1.75 million to be paid quarterly based upon 10% of the sales of NetEngine products. In addition, Verilink has agreed to purchase Polycom's NetEngine related inventories on an as-needed basis. The value of such inventory as of the closing date is approximately $1.9 million. Verilink said the newly acquired NetEngine IADs and Voice over broadband (VoB) products complement its own existing 2 Mbps and below WANsuite product line with no overlap.
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http://www.polycom.com