Marlin Equity Partners, a Los Angeles California-based private investment firm with over US$1 billion of capital under management, completed its acquisition of Sycamore Networks. Financial terms were not disclosed.
The new Sycamore is headed by John Scully (president and CEO), who previously served as vice president of worldwide sales and support at Eastern Research. Before that, Mr. Scully held senior management positions at Test Link/Tel Link, Datatel, Cray Communications, and Data Decisions. Mr. Scully holds a B.A. in Communications from the University of Dayton in Dayton, Ohio.
In December, Marlin Equity Partners agreed to acquire Nokia Siemens Networks' Optical Networks business. Marlin plans to form a new optical company to be headquartered in Munich, Germany with operations around the world. This new optical company will be led by its existing management team with Herbert Merz nominated as chief executive officer. Up to 1,900 employees – mainly in Germany, Portugal and China – from the optical business unit and related functions are expected to transfer to the new company. The transaction is expected to close in the first quarter of 2013.