Alcatel-Lucent To Acquire Tropic Networks

Alcatel-Lucent (NYSE: ALU) has agreed to acquire substantially all the assets of Tropic Networks Inc., an Ottawa-based metro-WDM networking supplier. No financial terms were disclosed. Tropic Networks had raised around $156 million in total VC funding since its 2000 inception, from firms like Celtic House Venture Partners, Crescendo Ventures, Goldman Sachs, Kodiak Venture Partners, Ontario Teachers' Pension Plan and Panorama Capital.