ECI Telecom to be acquired by Ribbon Communication for around $455 Million

Nasdaq-listed software company Ribbon Communications Inc. announced on Thursday an agreement to acquire Israel-based telecommunications equipment supplier ECI Telecom Ltd. for $324 million in cash and 32.5 million shares of Ribbon’s common stock, worth around $130 million. According to the announcement, ECI shareholders will also receive approximately $31 million from a sale of some of ECI’s real estate assets.