Ericsson buying Redback, $2.1 B

The Wall Street Journal is reporting that Ericsson is acquiring Redback Networks, maker of broadband routing gear for $25 a share, or $2.1 B, further accelerating the consolidation of the telecom equipment-supplier market. The company just pushed out a press release and point out that they are paying a 60% premium to the 90 day share price average. More as we follow…