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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): August 2, 2000
REDBACK NETWORKS INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 000-25853 77-0438443
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification Number)
1195 Borregas Avenue
Sunnyvale, CA 94089
(408) 571-5000
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(Addresses, including zip code, and telephone numbers,
including area code, of principal executive offices)
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ITEM 5. OTHER EVENTS.
Redback Networks Inc. ("Redback") announced on July 31, 2000 that it
signed a definitive agreement to acquire Abatis Systems of Vancouver, Canada for
Redback common stock valued at approximately U.S. $636 million.
Under the terms of the agreement, which was approved by each company's
board of directors, Redback or a new Redback subsidiary incorporated in Canada,
will issue approximately 5.2 million Redback shares for all outstanding shares,
options and warrants of Abatis Systems. Based on the closing price of Redback
shares on July 28, 2000, the transaction was valued at U.S. $636 million. The
shares of the new Redback Canadian subsidiary will be issued to Canadian
residents who elect to receive such shares and will be exchangeable, on a
share-for-share basis, for Redback common stock.
Upon completion of the merger, Abatis Systems will become a Redback
Networks subsidiary. John Seminerio, chief executive officer and president of
Abatis Systems, will become general manager of the Abatis Systems subsidiary in
Vancouver, Canada and will report to Vivek Ragavan, chief executive officer and
president of Redback. All Abatis Systems personnel are expected to continue with
the Company.
Redback expects the transaction to close in Fall 2000, and is subject
to normal regulatory approvals as well as court approval in Canada.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
REDBACK NETWORKS INC.
DATE: August 2, 2000 By: /s/ CRAIG GENTNER
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Craig Gentner
Senior Vice President of Finance,
Chief Financial Officer and
Corporate Secretary
(PRINCIPAL FINANCIAL OFFICER)
