Ciena Corp subsequently received funding from Sevin Rosen Funds as a result of a demonstration at its laboratory attended by Jon Bayless, a partner at the firm, who saw the value in applying HydraLite's fiber-optic technology to cable television.
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Ciena Corp received $40 million in venture capital financing, including $3.
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Huber and Nettles, who changed the company's name to Ciena Corp, began working from an office in Dallas in February 1994; Huber would remain with Ciena Corp until 1995.
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Ciena Corp began diversifying its clientele and acquiring smaller contracts in 1997.
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Ciena Corp went public on NASDAQ in February 1997, and was the largest initial public offering of a startup company to date, with a valuation of $3.
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Ciena Corp earned approximately $370 million in revenue and profits of $110 million for the fiscal year ending in October 1997.
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Ciena Corp completed a series of strategic acquisitions, buying 11 companies between 1997 and early 2004.
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Ciena Corp was the fourth largest producer of fiber optic equipment in the US by 2003.
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In 2008, Ciena Corp earned $902 million and reported a profit of $39 million.
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Ciena Corp earned $653 million and reported a loss of $580 million in 2009; Ciena was generating approximately two-thirds of its revenue in the US at the time.
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Ciena Corp had net losses until 2015, when the company earned $2.
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Ciena Corp ranked number 770 and number 744 on the Fortune 1000 in 2017 and 2018, respectively.
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Ciena Corp acquired the telecommunications company AstraCom Inc in 1997 for $13.
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Fourteen of AstraCom's engineers signed four-year contracts with Ciena Corp, and joined the company's new research and development team in Alpharetta, Georgia.
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Ciena Corp purchased Terabit Technology Inc, a producer of detectors for data transmission based in Santa Barbara, California, for $11.
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Ciena Corp acquired Cupertino, California-based Lightera Networks Inc and Marlborough, Massachusetts-based Omnia Communications Inc for $980 million in stock in 1999.
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Ciena Corp purchased WaveSmith Networks Inc, an optical-networking equipment manufacturer based in Acton, Massachusetts, for $158 million in stock in 2003.
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In 2008, Ciena Corp acquired World Wide Packets Inc, a Spokane Valley, Washington-based producer of switches and software for Ethernet services, for approximately $296 million.
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Ciena Corp acquired Cyan, which offers platforms and software systems for network operators, for approximately $400 million in 2015.
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Ciena Corp acquired Packet Design, an Austin-based network performance management software company specializing in network optimization, route analytics, and topology, in 2016.
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In 2018, Ciena Corp purchased software and services company DonRiver for an undisclosed amount.
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Ciena Corp provides converged packet optical and Ethernet services to Bharti Airtel, Jio, and Vodafone Idea Limited, and supplies equipment to the Government of India, as of mid 2019.
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Ciena Corp develops and markets equipment, software and services, primarily for the telecommunications industry and large cloud service firms.
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