Tellabs has posted quarterly losses for the past three years and said the acquisition is a result of a "thorough" review of strategic options and more than 30 firms looking to make a deal for the struggling telecom.
Earlier this year, Tellabs said it was laying off about 300 workers, roughly 12 percent of its workforce, and discontinuing a line of routers amid financial struggles to turn a profit.
"We view Tellabs' business as an ideal opportunity to capitalize on the growth in the telecom network equipment sector," Marlin's co-founder Nick Kaiser said in a statement.
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