ADVA OPTICAL NETWORKING SIGNS AGREEMENT ON INVESTMENT FROM JUNIPER NETWORKS
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ADVA AG Optical Networking / ADVA OPTICAL NETWORKING SIGNS AGREEMENT ON INVESTMENT FROM JUNIPER NETWORKS processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Management and Supervisory Boards of ADVA Optical Networking resolve on the
issuance of 551,471 ordinary shares to Juniper Networks in exchange for a USD
3.0 million investment
Martinsried/Munich, Germany. July 1, 2010. ADVA AG Optical Networking and
Juniper Networks, Inc. entered into an investment agreement today. Based on this
agreement, the Management Board of ADVA Optical Networking resolved to issue
551,471 ordinary shares to Juniper Networks in exchange for a USD 3.0 million
investment under exclusion of subscription rights of existing shareholders. Also
today, the respective capital increase was approved by ADVA Optical Networking's
Supervisory Board. With this transaction, the number of ordinary ADVA Optical
Networking shares outstanding increases by 1.2% to 46,963,728. Juniper Networks
is obliged to hold the shares issued to them for at least 18 months from the day
the related capital increase will be registered with the commercial register of
ADVA Optical Networking. This obligation is subject to certain conditions, in
particular that ADVA Optical Networking will remain independent.
In addition, the companies will evaluate the potential for jointly marketing
and selling next-generation Internet Protocol (IP)-based transport solutions to
service providers to help reduce network complexity and costs.
"Juniper Networks is a great partner with global reach and presence at all
tier one accounts," said Brian Protiva, chief executive officer at ADVA Optical
Networking. "Their products have earned a fantastic reputation in the service
provider community for delivering leading-edge performance for IP networking.
Our innovative Optical+Ethernet transport solutions and open software framework
make for an ideal foundation for Juniper's portfolio of switches and routers."
"ADVA Optical Networking has been recognized for delivering high-quality, and
cost-effective optical transport products to market and shares a similar vision
for enabling customers to benefit from improved economics," said Stefan
Dyckerhoff, executive vice president and general manager of Infrastructure
Products Group at Juniper Networks. "Our investment will strengthen the
relationship between both companies."
# # #
ABOUT ADVA OPTICAL NETWORKING
ADVA Optical Networking (FSE: ADV) is a global provider of intelligent
telecommunications infrastructure solutions. With software-automated
Optical+Ethernet transmission technology, the Company builds the foundation for
high-speed, next-generation networks. The Company's FSP product family adds
scalability and intelligence to customers' networks while removing complexity
and cost. With a flexible and fast-moving organization, ADVA Optical Networking
forges close partnerships with its customers to meet the growing demand for
data, storage, voice and video services. Thanks to reliable performance for more
than 15 years, the Company has become a trusted partner for more than 250
carriers and 10,000 enterprises across the globe. For more information, please
visit us at www.advaoptical.com.
PUBLISHED BY:
ADVA AG Optical Networking, Martinsried/Munich and Meiningen, Germany
ADVA Optical Networking North America, Inc., Norcross, Georgia, USA
ADVA Optical Networking (Shenzhen) Ltd., Shenzhen, China
www.advaoptical.com
FOR PRESS:
Christine Keck
t +1 301 920 0237 (U.S.)
t +44 1904 699 358 (Europe)
t +86 755 8621 7400 (Asia)
public-relations(at)advaoptical.com
FOR INVESTORS:
Wolfgang Guessgen
t +1 201 940 7212 (U.S.)
t +49 89 89 0665 940 (Europe)
t +86 755 8621 7400 (Asia)
investor-relations(at)advaoptical.com
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ADVA AG Optical Networking
Campus Martinsried, Fraunhoferstr. 9a Martinsried/Munich Germany
WKN: 510300;ISIN: DE0005103006;
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Source: ADVA AG Optical Networking via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2010 - 20:37 Uhr
Sprache: Deutsch
News-ID 23370
Anzahl Zeichen: 0
contact information:
Town:
Martinsried/Munich
Kategorie:
Business News
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