Santa Clara, California-based Bay Networks Inc is still hungry, and its latest target is Tel Aviv-based Armon Networking Ltd. Bay has reached definitive agreement to acquire the Israeli company for about $33m in cash. It expects the acquisition to close in the current quarter, and that it will have to take a one-time charge equal to a very significant portion of the total purchase price and related transaction costs. Armon Networking, described as a worldwide provider of RMON-based distributed analysis tools and multi-segment local area network probes, will be integrated into Bay’s network management group as Bay Networks Israel Ltd.
