February 23, 2001, 3:25 PM — SIEMENS ON THURSDAY snapped up DSL vendor Efficient Networks in a $1.5 billion deal that is designed to bolster Siemens' broadband offerings.
Siemens' Information and Communications Network (ICN) Group, in Munich, Germany, was already entrenched in the DSL hardware market as a hefty maker of DSLAM (digital subscriber line access multiplexer) devices for service providers.
But Siemens eyed Dallas-based Efficient as a way to provide more DSL-related CPE (customer premise equipment) for business and residential users, the companies said in a statement.
Under the deal, Efficient founder and chairman Mark Floyd will become president of ICN's Access Solutions division.
Efficient also used the merger announcement to debut a fresh deal with Texas Baby Bell SBC. SBC has tapped Efficient to provide Ethernet attached DSL modems for the next year.