Zhone Technologies, Inc. today announced it will purchase Paradyne Networks, Inc., a provider of triple play broadb...
July 8, 2005
Zhone Technologies, Inc. today announced it will purchase Paradyne Networks, Inc., a provider of triple play broadband loop carriers (BLCs) and Ethernet access equipment.
Zhone says the acquisition will provide scale to allow for further growth and more comprehensive sales, service and support.
The combined company will have employees operating in 21 countries around the world.
“Together, Zhone and Paradyne will deliver a broad array of products that allow carriers to extend their current access networks,” said Mory Ejabat, chairman and CEO of Zhone.
“The combined product portfolios will provide customers with unparalleled ability to maintain legacy services while simultaneously migrating their operations to pure packet for delivery of new VoIP, data and IP video services over both copper and fiber.”
“We believe this transaction is beneficial to Zhone stockholders, Paradyne stockholders and to the respective customers of both companies,” said Sean Belanger, chairman and CEO of Paradyne.
Both Belanger and Pat Murphy, chief financial officer of Paradyne, have agreed to remain with Zhone as consultants for up to two years to assist in the transition.