Bay will acquire the modem technology in a stock deal valued at $120 million. The company had previously announced its plans last summer.
Under the deal, Access will license the modem technology back from Bay to be used in the company's network access devices sold to corporations, said an Access spokeswoman. Access earlier this week had changed its name from Penril DataComm Networks (PNRL).
Bay Networks in September announced plans to acquire LANcity, a cable modem company, for $59 million in cash.
Under that deal, Bay Networks plans to use LANcity's hardware with Bay Networks' worldwide sales, support, and service.