Asante Announces Private Placement Investment of $1.5 Million to Roll Out New IntraCore Product Family; Investor to Purchase 500,000 Common Shares.Business Editors/High-tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--March 22, 2000 Asante Technologies, Inc. (Nasdaq: ASNT ASNT American Society of Non-destructive Testing ASNT American Society for Neural Transplantation ASNT Astrological Association of North Texas (Dallas - Fort Worth Metroplex) ASNT Application Sharing Nt .OB) announced today it has completed a definitive agreement with Delta Holding Delta Holding is the fourth largest company in Serbia. The company was founded in Belgrade. Delta Holding performs a variety of services, such as import-export, banking, insurance, the selling of goods, etc. International, Ltd. and its family of Companies for the purchase of 500,000 common shares in exchange for $1.5 million dollars, or $3.00 per share. The investment was planned as a concerted effort to coincide with the shipment of Asante's first enterprise Gigabit Ethernet An Ethernet standard that transmits at 1 Gbps. Used mostly to connect high-end workstations and servers as well as for network backbones, Gigabit Ethernet transmits full duplex from point to point using switches and half duplex in a shared environment (CSMA/CD) using a hub. switches. The proceeds from this investment will be used to expand operations in support of the Company's newly introduced IntraCore(TM) family of high-performance, enterprise-level, Gigabit Ethernet switches, and to provide additional reserves for the Company. On March 21, the company announced the shipment of the IntraCore 8000 and IntraCore 9000, the first two members of this family. "We recently began shipping the first products in our new line of IntraCore multi-service Gigabit Ethernet switches, which is the most important development in Asante's history," commented Wilson Wong, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Asante. "This investment will help us to fund our expansion of marketing, sales and service operations as well as the ongoing development of new members of the IntraCore product family." Asante has developed the IntraCore Architecture specifically to address the demand for multi-service networks for the Internet age. In addition to data, the architecture supports voice, graphics and video streams for emerging, time-critical applications. Taking advantage of advanced ASICs and innovative design, the IntraCore architecture supports Layer 3 wire-speed routing and robust Quality of Service (QoS) in the application layer. It is also highly scaleable and standards-based, thus providing multi-vendor interoperability, and a smooth migration path from current systems. The new IntraCore family of products target multi-service applications in educational institutions, enterprise and service provider environments. About Asante Founded in 1988, Asante Technologies is a leading provider of high-performance networking solutions for the small office/home office See SOHO. (SOHO Soho (sōhō`, sə–), district of Westminster, London, England, known for its continental restaurants. Once a fashionable quarter, it became popular among writers and artists in the 19th cent. ), educational institutions, and enterprises. The Company's SOHO products provide hardware and software solutions to simplify networking and Internet access See how to access the Internet. for mobile, small and home office professionals. The Company's managed network products are known for their elegant design, reliability and ease of use. For additional information, call 800/662-9686 for SOHO products, 800/303-9121 for IntraCore products, or 408/435-8388 or visit www.asante.com. |
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