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Motorola Inc. has signed an agreement of intent to purchase Andover-based Quantum Bridge Communications Inc. for an undisclosed sum of cash.
Quantum Bridge, which makes a passive optical networking platform, was one of New England's hottest startups during the boom, raising $124 million in venture capital funding. The company applied for an IPO in December 2000 with the Securities and Exchange Commission, at which time it had 239 employees.
Six months later, it withdrew that filing.
A cash purchase with undisclosed terms usually signals a rockbottom buy for the acquirer. But with Motorola, that's not always the case.
Last year, Motorola announced it would buy Winphoria Networks for an undisclosed...