Clarent to Buy ACT

Clarent Corp., a maker of equipment for phone systems based on Internet technology, agreed to buy Calabasas-based ACT Networks Inc. for about $189 million in stock. The acquisition will expand Clarent’s products to include network access equipment and will boost its development capabilities. All 220 ACT employees will join Clarent, which employs 370. No firings are planned, a spokesman for Redwood City, Calif.-based Clarent said. ACT, a maker of customized network access systems that can send voice, data and faxes via satellite and wireless media, will remain in Calabasas. Clarent will exchange 0.2546 share for each share of ACT, subject to a maximum price of $18 and a minimum price of $14 for ACT shares at closing. ACT shares rose 38 cents to close at $14.25, while Clarent fell $5 to close at $69.50, both on Nasdaq.