Tellabs Taken Private for $891M

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Marlin Equity Partners paid $891M for Tellabs - a 4.3% premium on Friday's closing price.

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.

Marlin also purchased Nokia Siemens Networks' optical business in December 2012 and said it intends position it's properties as a consolidator in the fragmented optical networking sector.

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