Calix to Acquire Occam Networks (CALX, OCNW)

Calix, Inc. CALX and Occam Networks, Inc. OCNW today announced that the companies have entered into a definitive agreement for Calix to acquire Occam Networks in a stock and cash transaction valued at approximately $171 million, which is approximately $7.75 per outstanding share of Occam Networks stock. Upon the completion of the acquisition, each outstanding share of Occam Networks common stock will be converted into the right to receive $3.8337 per share in cash, without interest plus 0.2925 of a validly issued, fully paid and non-assessable share of Calix common stock. After the completion of the acquisition, former Occam Networks stockholders will own between 16.5 percent and 18.9 percent of the outstanding shares of Calix's common stock based on the number of Calix shares outstanding as of September 15, 2010.