The offer values the company at $2.45 per share, which is a 13.3 per cent premium to its average closing share price over the past 180 days.
The deal has been approved by Tellabs’ board of directors and is expected to close in the final quarter of the year.
Tellabs said it has contacted more than 30 potential suitors including strategic buyers and investment firms as part of a competitive bidding process.
Marlin partner Nick Kaiser said, “We are excited to back the Tellabs team and we view Tellabs’ business as an ideal opportunity to capitalize on the growth in the telecom network equipment sector.
“We are committed to extending Tellabs’ market leadership by continuing to make significant investments in research and development, and in providing a superior customer experience.”
Recent deals by Marlin included the acquisition of financial and clinical software developer 6N Systems in August this year.
The firm plans to merge the business with its portfolio company SigmaCare.
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