Zhone Technologies Completes Acquisition of DASAN Network Solutions to Create Global Leader in Network Access Solutions
(Thomson Reuters ONE) -
FOR IMMEDIATE RELEASE
Media Contacts:
DASAN Zhone Solutions Investor Relations DASAN Networks Communications Team
Tel: +1 510.777.7013 Ms. Ji-Hyoun Kim
E: kimjh(at)dasannetworks.com
Fax: +1 510.777.7001 Ms. Na-Young Han
E: hanny(at)dasannetworks.com
E: investor-relations(at)zhone.com
Zhone Technologies Completes Acquisition of DASAN Network Solutions to Create
Global Leader in Network Access Solutions
Oakland, Calif., Sept. 9, 2016 - DASAN Zhone Solutions, Inc. (formerly known as
Zhone Technologies, Inc.) (NASDAQ: DZSI), a global leader in fiber access
transformation for enterprise and service provider networks, announced that its
acquisition of DASAN Network Solutions, Inc., a leading network solution
provider, has been completed, resulting in the company emerging as a global
leader in broad-based network access solutions. In connection with the
acquisition, the company issued approximately 47.5 million shares of its common
stock, representing 58 percent of the combined company, to DASAN Networks, Inc.,
the former sole shareholder of DASAN Network Solutions, and changed its name to
DASAN Zhone Solutions, Inc. The company will commence trading on the Nasdaq
Capital Market under the new symbol DZSI on Monday, Sept. 12, 2016.
"The acquisition of DASAN Network Solutions will immediately position DASAN
Zhone as a leading provider of broadband access, ethernet switching, mobile
backhaul, passive optical LAN and software defined networks," stated James
Norrod, co-CEO of DASAN Zhone Solutions. "We know demand for these solutions is
high and we will immediately begin co-selling to each company's loyal customer
base with a unified sales and support team in every major geographic region."
DASAN Network Solutions provides end-to-end network solutions across carrier and
enterprise markets. DASAN Zhone Solutions serves more than 800 of the world's
most innovative network operators and a variety of enterprise customers. Moving
forward the company will provide solutions in five major product areas:
* Broadband Access - Fiber and copper access technologies that deliver
gigabit-per-second bandwidth that's required for today and tomorrow's
connected world
* Ethernet Switching - Cost effective, easy-to-use Ethernet switching
platforms that come with inherent migration paths to networks controlled by
software defined networks
* Mobile Backhaul - Manageable, flexible backhaul and fronthaul solutions,
optimized for performance and costs, for mobile access networks
* Passive Optical LAN - Cost-effective, energy-efficient and space-saving
ultra-high bandwidth enterprise networks with scalability that can't be
matched
* Software Defined Networks - Access and edge-networking equipment that drives
software-based cloud controllers to enable carrier and data center network
transformation
"DASAN Zhone Solutions will deliver a broad array of products that will allow
carriers and enterprises to connect at tremendous speeds," stated Yung Kim, co-
CEO of DASAN Zhone Solutions. "We will provide significant investment resources
and our highly-talented teams will deliver the best communication products in
the world."
DASAN Zhone Solutions will continue to be headquartered in the company's current
location in Oakland, California and will maintain manufacturing facilities in
the U.S., Korea and China. The company will also have offices in the Americas,
Asia, Europe, Korea and the Middle East.
DASAN Zhone Solutions will conduct a conference call and audit webcast on
Tuesday, Sept. 13th, at 2:00 p.m. Pacific Time to review this announcement. The
call is open to the public by dialing +1 (888) 306-9369 for U.S. callers and +1
(503) 406-4059 for international callers and entering the passcode 79931247. The
audio webcast will be simultaneously available on the Investor Relations section
of DASAN Zhone Solutions' website at http://www.zhone.com/investors/. A
recording of the conference call will be available for approximately one week
after the original call by dialing +1 (855) 859-2056 for U.S. callers and +1
(404) 537-3406 for international callers and entering the passcode 79931247. An
audio webcast recording will also be available online at
www.zhone.com/about/investors/ for approximately one week following the original
call.
###
About DASAN Networks, Inc.
DASAN Networks was founded in 1993 in Seoul, Korea to develop a Linux based
Router. In 1998, Korea Telecom chose DASAN Networks for its frame relay router
offering. Since then, the company has expanded its Linux OS, creating a suite
of products from L2 Switches, to VDSL, GPON and EPON OLTs and ONTs, IP DSLAMs
and, most recently, Mobile Backhaul Routers and Switches. In the late 1990s and
early 2000s, DASAN Networks grew into Korea's #1 networking equipment provider,
dominating FTTH in all major Korean Carriers, including KT, SK Broadband and LG
U+. In more recent years, the company has expanded to become a global player
with wins at Softbank, KDDI Japan, BSNL in India, Chunghwa and Taifo in Taiwan
and Viettel in Vietnam. On April 1, 2015, DASAN Networks Solutions became a
captive spinoff of DASAN Networks.
DASAN NETWORKS, the DASAN logo, and all DASAN Networks product names are
trademarks of DASAN Networks. Other brand and product names are trademarks of
their respective holders. Specifications, products, and/or product names are all
subject to change without notice.
About DASAN Zhone Solutions, Inc.
DASAN Zhone Solutions, Inc., is a global leader in broad-based network access
solutions. The company provides solutions in five major product areas including,
broadband access, Ethernet switching, mobile backhaul, passive optical LAN (POL)
and software defined networks (SDN). More than 750 of the world's most
innovative network operators, service providers and enterprises turn to DASAN
Zhone Solutions for fiber access transformation. The IP Zhone is the only
solution that enables service providers to build the network of the future
today, supporting end-to-end voice, data, entertainment, social media, business,
mobile backhaul and mobility service. DASAN Zhone Solutions is committed to
building the fastest and highest quality All IP Multi-Service solution for its
customers. DASAN Zhone is headquartered in Oakland, California.
DASAN Zhone Solutions, the DASAN Zhone Solutions logo, and all DASAN Zhone
Solutions product names are trademarks of DASAN Zhone Solutions, Inc. Other
brand and product names are trademarks of their respective holders.
Specifications, products, and/or product names are all subject to change without
notice.
Forward-Looking Statements
This press release contains forward-looking statements that are entitled to the
protection of the safe harbors contained in Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934, including forward-
looking statements regarding the timing of the integration, the anticipated
benefits, operating efficiencies and cost synergies that may be achieved in
connection with the acquisition of Dasan Network Solutions, the degree to which
the combined company will alter the competitive landscape in its industry and
the combined company's ability to successfully fulfill its customers' needs.
Actual results could differ materially from those expressed in or contemplated
by the forward-looking statements. Factors that could cause actual results to
differ include the possibility that the intended benefits of the acquisition may
not be fully realized, the failure of the combined company to retain key
employees, the failure of the combined company to manage the cost of integrating
the businesses and assets of Zhone and Paradyne, general economic conditions,
the pace of spending and timing of economic recovery in the telecommunications
industry, the combined company's inability to sufficiently anticipate market
needs and develop products and product enhancements that achieve market
acceptance, and higher than anticipated expenses the combined company may incur
in future quarters. In addition, please refer to the risk factors contained in
DASAN Zhone's SEC filings, including without limitation, the definitive proxy
statement filed on August 8, 2016, DASAN Zhone's Annual Report on Form 10-K for
the year ended December 31, 2015 and DASAN Zhone's Quarterly Report on Form 10-Q
for the quarter ended June 30, 2016, as amended. Readers are cautioned not to
place undue reliance on any forward-looking statements, which speak only as of
the date on which they are made. DASAN Zhone undertakes no obligation to update
or revise any forward-looking statements.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Zhone Technologies, Inc via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 09.09.2016 - 18:45 Uhr
Sprache: Deutsch
News-ID 493882
Anzahl Zeichen: 10211
contact information:
Town:
Oakland, California
Kategorie:
Business News
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