Eds: UPDATES with closing stock price
ROCHESTER, N.H. (AP) _ Cabletron Systems said Tuesday it will pay $77.5 million to acquire the enterprise networks business unit of Standard Microsystems Corp., rounding out its line of products for data networks.
The acquisition will enable Cabletron to use local area network technology that will allow computers to share information 10 times faster than current products, the company said.
The faster electronic switching capability is neded to accommodate systems and applications that combine voice, video and data.
``This will create a path from today’s computer networks to tomorrow’s computer networks so we can begin to enjoy some of the applications that are being developed,″ said Michael Welts, Cabletron’s marketing director.
The company’s stock was up $4.25 to $80 Tuesday on the New York Stock Exchange.