PETALUMA -- Calix Inc. (NYSE: CALX) today said it is acquiring Santa Barbara-based telecommunications products developer Occam Networks Inc. (Nasdaq: OCNW) in a cash and stock deal valued at $171 million, or $7.75 a share of Occam stock.

The definitive agreement would involve exchanging each Occam share for $3.83 in cash and about 29 percent of a share of Calix stock. Based on Sept. 15 prices, Occam shareholders would own 16.5 percent to 18.9 percent of Calix shares. A member of Occam's board of directors not in management will join Calix's board. The deal is expected to close in the fourth quarter of this year or the first quarter of 2011.

"The acquisition is expected to result in more access options over both fiber and copper for communications service providers to deploy, which could expedite the proliferation of advanced broadband services to both residential and business subscribers, including such services as high-speed Internet, Web-based television (IPTV) and calling (VOIP), Ethernet business services and other advanced broadband applications," Calix said in a statement.

"The rate of change is accelerating for communications service providers, and Calix is fully committed to providing our customers with the broadest portfolio of innovative access network options to adapt to this changing world,” said Carl Russo, president and chief executive officer of Calix. “By combining Occam Networks’ expertise in IP and Ethernet, Calix’s strength in fiber access and both companies’ experience in copper access, we believe there is a clear opportunity to further enhance the Calix Unified Access portfolio, accelerate its future innovation and enable greater broadband deployment by communications service providers globally."

Occam claims to have more than 380 communications service providers as users of its BLC 6000 access port for delivering voice, data and video services over copper and fiber.

Calix's stock price opened today's trading session sharply lower, at $12.40 a share compared with yesterday's closing price of $13.30. At 8:15 a.m. Pacific Time, Calix's stock price was $11.97 a share, or 10 percent lower than the Wednesday closing price.

Occam's stock price jumped to $7.10 a share, or a 34 percent increase from the Wednesday close.