Avocent Completes Equinox Acquisition.Business Editors/Technology Writers HUNTSVILLE, Ala.--(BUSINESS WIRE)--Jan. 4, 2001 Avocent Corporation (Nasdaq/NM:AVCT AVCT Advanced Vehicles Concept Team ) today announced that it completed the acquisition of Equinox equinox (ē`kwĭnŏks), either of two points on the celestial sphere where the ecliptic and the celestial equator intersect. The vernal equinox, also known as "the first point of Aries," is the point at which the sun appears to cross the Systems Inc. (Nasdaq/NM: EQNX) effective January 3, 2001. Equinox stockholders approved the acquisition at a special meeting held on January 2, 2001. Under terms of the acquisition agreement, Equinox stockholders will receive $9.75 per outstanding share payable in cash. The acquisition is valued at approximately $57 million. "We plan to quickly integrate the operations of Equinox to expand our digital console management offerings to the Unix platform, and enhance our network communications product development and software development programs," stated Stephen F. Thornton, president and chief executive officer of Avocent Corporation. "We have been working closely with the Equinox team since the acquisition was announced in November and are excited about the opportunities to expand our system management solutions for ISPs and ASPs through the combination of our joint resources. "We are pleased that Bill Dambrackas, founder of Equinox, has joined Avocent as Senior Vice President - Network Technology. He will be based in Florida and will facilitate the integration with the other Avocent product development organizations. We are particularly excited about adding Equinox's software development and hardware expertise that will accelerate Avocent's expansion of Unix support and increased functionality for our new DS1800 digital solutions," concluded Mr. Thornton. Equinox, headquartered in Sunrise, Florida Sunrise is a city in Broward County, Florida, United States. Originally called "Sunrise Golf Village,"City of Sunrise History the name did not sit well with the retirees whom developers wanted to attract, so a change was made to "Sunrise. , has focused on products and software that support serial device connectivity. The company has significant experience in working with ISPs and ASPs, two fast growing markets for Avocent server management solutions. Equinox's products include devices that improve the efficiency of IP networks by enabling system designers to create widely distributed Adj. 1. widely distributed - growing or occurring in many parts of the world; "a cosmopolitan herb"; "cosmopolitan in distribution" cosmopolitan bionomics, environmental science, ecology - the branch of biology concerned with the relations between organisms solutions that take advantage of centralized control 1. In air defense, the control mode whereby a higher echelon makes direct target assignments to fire units. 2. In joint air operations, placing within one commander the responsibility and authority for planning, directing, and coordinating a military operation or group/category of , reduced costs and simplified cabling. Their product base also includes serial console port management devices, Ethernet serial port servers and network management software products that are complementary to Avocent's product line. In addition, Equinox is an OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and supplier to Hewlett-Packard, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) and other customers that are common with Avocent. For the quarter ended September 30, 2000, Equinox reported sales of $5.6 million and net income of $540,000. About Avocent Corporation Avocent is the leading worldwide supplier of equipment that helps data center operators manage their ever-expanding server farms. Operators are provided real-time access to any of their computers over the Internet from anywhere in the world, all without requiring any special hardware or software on those computers. Avocent was formed in the year 2000 by the merger of leading industry innovators Apex Inc. and Cybex Computer Products Corporation. Headquartered in Huntsville, Alabama Huntsville is the county seat of Madison County, Alabama. Huntsville is the largest city in northern Alabama in a region of a half-million people, with the city proper having 168,132 residents (2006 estimate). , Avocent Corporation has locations in Redmond, Washington Redmond is a city in King County, Washington, USA. It is situated on the eastern edge of the Seattle urban area, in what is known as the Eastside. In 2003 the Census Bureau estimated the city population was 46,391. ; Shannon, Ireland; Boston, London; Steinhagen and Munich, Germany; Tokyo and Toronto. For more information about Avocent and its products, visit the Company's Web site at www.avocent.com. 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. This press release contains statements that are forward-looking statements as defined within 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. These include statements regarding market opportunity, product development, engineering and design activities, and integration of the Avocent and Equinox operations and businesses. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with the integration of the combined businesses, risks associated with product design efforts, and risks associated with reliance on a limited number of component suppliers and single source components. Avocent does not undertake any obligation to publicly release the result of any revisions to forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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