Network Equipment to buy Quintum for $41M

Network Equipment to buy Quintum for $41M

Network Equipment Technologies Inc. said Friday it agreed to acquire Quintum Technologies Inc. for $41 million. Fremont-based Network Equipment said the payment will comprise $20.5 million in cash and $20.5 million in stock. Network Equipment will also assume about $2 million in debt for Eatontown, N.J.-based Quintum.

Privately-owned Quintum focuses on VoIP access. The company has about 75 employees and also has offices in Schaumberg, Hong Kong, Taipei and Shanghai. Its products will continue to be sold through the Quintum brand. Network Equipment is a provider of multi-service network exchange solutions for enterprise and government customers.