ADC Expands Broadband Integration Service Capabilities Into Europe With Acquisition of France Electronique's Telecom Systems Integration Business.Business Editors & High-Tech Writers Proposed Acquisition Gives ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. Added Capability To Offer Broadband Service Providers An ISP, telephone company, cable company or other carrier that offers high-speed communications to homes and businesses, typically for Internet access. Cable modems, DSL and T1 lines are the common technologies. See broadband, cable modem, DSL and T1. Integration Solutions for Acceleration of Pan-European and Local Network Expansion MINNEAPOLIS & PARIS--(BUSINESS WIRE)--Aug. 31, 2000 ADC (Nasdaq: ADCT ADCT Adaptive Discrete Cosine Transform , www.adc.com), a leading global supplier of network equipment, software and integration services for broadband, multiservice networks and France Electronique, a European supplier of wireless and wireline services to the telecommunications industry, today announced they have reached an agreement for the acquisition of France Electronique's telecom systems integration business by ADC. "The strength of ADC's systems integration business in the US allows us to accelerate our European development model, and this acquisition represents our first step to extend our reach into Europe, which is poised for substantial growth," said Jo Anne Anderson Anne Anderson may refer to: People
"We are excited to join ADC in providing broadband systems integration services worldwide in order to enable communications service providers A Communications Service Provider or CSP is a company that transports information electronically. The term encompasses public and private companies in the wireline, wireless, Internet, cable, satellite, and managed services businesses. to deliver high-speed Internet See broadband. , data, video and voice services to homes and businesses. ADC's global presence, financial strength, and customer-focused programs and systems will give us a tremendous opportunity to further support our existing customers as well as the ability to leverage our joint assets into new customer successes," said Patrick Chicheri, president of France Electronique. Terms of the deal were not disclosed due to the immaterial Not essential or necessary; not important or pertinent; not decisive; of no substantial consequence; without weight; of no material significance. immaterial adj. effect on ADC's consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge . ADC expects to close this transaction in October, subject to customary conditions. ADC ESTABLISHES PRESENCE IN IMPLEMENTATION AND INTEGRATION SERVICES FOR THE FRENCH AND EUROPEAN MARKET The French telecommunications market forms an important component of ADC's pan-European systems integration strategy. As U.S.-based multi-nationals globalize glob·al·ize tr.v. glob·al·ized, glob·al·iz·ing, glob·al·iz·es To make global or worldwide in scope or application. glob and expand into France, French companies, such as France Telecom, are expanding abroad. Because of this trend, ADC is building a local presence in France to serve both sets of customers, while continuing to honor and grow France Electronique's existing business relationships. The market in Europe is poised to continue an expansion and will need companies who can leverage scales of economy while focusing and optimizing local resources. The proposed acquisition of France Electronique's telecom systems integration business will add breadth to ADC's service portfolio in the area of wireless services; such as site acquisition, negotiation and turn-key implementation. ADC and France Electronique will jointly leverage each other's existing customer relationships and offer a more complete solution portfolio. In addition, ADC will benefit from France Electronique's local knowledge and experience through France Electronique's highly competent and customer-focused personnel. "ADC's Systems Integration Division has always had a very focused market approach, centered on customer needs," said Carlos Calderon, vice president and managing director of ADC's Systems Integration Division -- International. "As our customers have grown and expanded internationally, they have asked us to provide the same level of integration services they are accustomed to. ADC has responded to this need through the proposed acquisition of France Electronique's systems integration business." FRANCE ELECTRONIQUE'S SERVICES France Electronique's systems integration services enable communications service providers to offer applications that simplify users' lives by integrating Internet, email, voicemail, fax and voice services for delivery to wireless and wireline communications devices Typically refers to a terminal used to send voice, video or text. Mobile phones, wireless PDAs and personal computers equipped with microphones, speakers and cameras are all considered communications devices. See modem. . France Electronique's services are targeted at a wide range of global carriers and service providers, including long-distance carriers, wireless companies, BOCs, PTTs, independent telcos in emerging and deregulated markets, cable companies, next-generation telcos, ISPs, CLECs, Internet Portals and independent Internet-based service providers. ADC'S SYSTEM INTEGRATION BUSINESS ADC's systems integration business is focused on delivering services to telecom service providers worldwide. The business started in the U.S. in 1995 as a result of a growing customer demand for systems integration services. Since its inception, the business has grown rapidly to become an organization of more than 2,400 employees. About France Electronique France Electronique, a European supplier of wireless and wireline systems integration services to the telecommunications industry, is headquartered in Lisses Lisses is a french commune located in the Essonne département, in the Île-de-France region. One of the main landmarks of the town is the Dame du Lac, a large structure meant for climbing but is currently closed to the public. , France. About ADC ADC is The Broadband Company(TM). ADC's network equipment, software and integration services make broadband communications a reality worldwide by enabling communications service providers to deliver high-speed Internet, data, video and voice services to homes and businesses. ADC has annual sales of over $2.8 billion and employs more than 20,900 people worldwide. ADC's stock is included in the Standard & Poor's 500 Index and the Nasdaq-100 Index. Learn more about ADC Telecommunications ADC Telecommunications (NASDAQ: ADCT) is a communications company located in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. History In 1935, Ralph Allison founded ADC Telecommunications in the basement of his south Minneapolis home, inventing ADC's very , Inc. at www.adc.com. Cautionary Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 Any forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. contained herein reflect management's current expectations or beliefs. ADC Telecommunications cautions readers that future actual results could differ materially from those in forward-looking statements depending on the outcome of certain factors, including the risks and uncertainties identified in Exhibit 99-a to ADC's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended October 31, 1999. |
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