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SUBSEQUENT EVENTS | 12 Months Ended
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Oct. 29, 2022
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Acquisitions During the first quarter of fiscal 2023, Ciena closed on the acquisition of Benu Networks, a portfolio of cloud-native software solutions, including a virtual Broadband Network Gateway ((v)BNG), that complement Ciena’s existing portfolio of broadband access solutions. On November 22, 2022, Ciena entered into a definitive agreement to acquire Tibit Communications, Inc. Tibit combines passive optical network (PON)-specific hardware and operating software into a micro pluggable transceiver that can be integrated into a carrier-grade Ethernet switch and which will strengthen Ciena’s portfolio to deliver next-generation PON solutions that support residential, enterprise and mobility use cases. Ciena will acquire the remaining shares of Tibit that it does not already own in a cash-free, debt-free transaction currently valued at approximately $210 million, subject to adjustments for cash and debt, with the merger consideration to be paid in cash. In addition, Ciena will enter into certain employee retention arrangements in connection with the transaction. The transaction is expected to close during Ciena’s first quarter fiscal 2023.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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