Ascend Acquires Morning Star Technologies, Inc.ALAMEDA, Calif.--(BUSINESS WIRE)--March 21, 1996--Ascend Communications, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASND ASND A Streetcar Named Desire (play) ) today announced that it has acquired Morning Star Technologies, Inc. in a transaction to be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . Based in Columbus, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. , Morning Star manufactures standards-based, high performance networking products, including network routing software and advanced network security products. Morning Star's SecureConnect product provides the leading security software for Internet access, the implementation of virtual private networks, and Intranet applications. SecureConnect provides network designers with the total solution for establishing a secure network, including a perimeter firewall, encryption software, and an advanced authentication server. Secure Connect supports the majority of token-based security cards and many authentication protocols. Ascend issued approximately 440,000 shares of its stock to Morning Star shareholders in exchange for all outstanding Morning Star shares. The operations of Morning Star will remain in Columbus, Ohio, operating as the Ascend Network Security Business Unit. Dave Dawson, chief executive officer of Morning Star, has joined Ascend as general manager of the new business unit. Commenting on the acquisition, Mory Ejabat, chief executive officer of Ascend, said, "We are very pleased that Morning Star has decided to join forces with us. The acquisition of Morning Star provides technology that we will incorporate into our MAX and Pipeline product families to further enhance our market-leading product capabilities. Security is becoming increasingly vital as more and more companies begin to utilize the Internet for building virtual private networks and Intranet applications. The addition of the Morning Star technology will help us to maintain our leadership in the expanding arena of Remote Networking applications." Ascend Communications, Inc. is a leading, worldwide provider of remote networking solutions for corporate central sites, Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. points of presence, remote offices, mobile workers and telecommuters. Ascend develops, manufactures, markets, sells and supports products which utilize bandwidth on demand to extend existing corporate networks for applications such as remote LAN (Local Area Network) A communications network that serves users within a confined geographical area. The "clients" are the user's workstations typically running Windows, although Mac and Linux clients are also used. access, Internet access, telecommuting telecommuting, an arrangement by which people work at home using a computer and telephone, transmitting work material to a business office by means of a modem and telephone lines; it is also known as telework. , 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. connectivity and videoconferencing/multimedia access. Detailed information on Ascend products, news announcements, seminars, service and support is available on Ascend's home page at the World Wide Web site: http://www.ascend.com. CONTACT: Ascend Communications, Inc. Robert K. Dahl, 510/769-6001 ext. 2309 Paula Cook, 510/769-6001 ext. 2345 |
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