Network Equipment Technologies of Redwood City, California has definitive agreement for acquisition of Excelan Inc, San Jose, paying 0.667 of a share for each Excelan outstanding. Excelan will operate as a wholly-owned subsidiary from its present base and completion is set for end-July. Network Equipment specialises in private wide area networks for speech, data and video and did $11.2m net on $63m sales in the nine months to December. Excelan, local area network products, did $4.1m on sales of $39m in 1987.
NETWORK EQUIPMENT TO TAKE OUT NEWLY-PUBLIC EXCELAN
