Cabletron Announces Sale of GlobalNetwork Technology Services Outsourcing Unit.Business/Technology Editors ROCHESTER, N.H.--(BUSINESS WIRE)--July 16, 2001 Cabletron Systems, Inc. (NYSE NYSE See: New York Stock Exchange : CS), a holding company for networking and telecommunications companies See telecom company. , today announced the disposition of GlobalNetwork Technology Services (GNTS GNTS Global Network Technology Services ), Cabletron's network infrastructure consulting unit. -- GNTS' outsourcing operations, which constitute a significant portion of the unit, as well as portions of its implementation and installation practice, are being acquired by a private buyout firm in association with a group of current GNTS management. -- In addition, Enterasys Networks, Inc. and Aprisma Management Technologies, independent operating subsidiaries of Cabletron, are acquiring GNTS' small enterprise consulting and network management consulting practices respectively. -- Finally, GNTS will conduct a reduction in force affecting the remaining workforce. "GNTS is a close partner on a number of contracts that are strategic to Enterasys," said Henry Fiallo, President of Enterasys. "By acquiring the enterprise consulting and implementation practices of GNTS, we bring world-class expertise to Enterasys and ensure that our customers suffer absolutely no disruption in ongoing projects and support." "This disposition completes one more step in the Cabletron transformation," said Piyush Patel, Chairman and 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 Cabletron Systems, "further simplifying the Cabletron story and moving us closer to completing the strategy we launched a little over a year ago." About Cabletron Systems: Cabletron Systems, based in Rochester, NH, was founded in 1983. Initially a provider of world-class networking solutions, Cabletron announced its corporate transformation to a holding company in 2000. Today, Cabletron is a holding company for three of the most innovative, customer-focused organizations in the telecommunications and networking industry: Aprisma Management Technologies Aprisma Management Technologies was created after Cabletron Systems was broken up into 5 smaller pieces, as the business unit to continue the highly successful SPECTRUM network management suite. It was acquired in early 2005 by Concord, which in turn was acquired by Computer Associates. , Enterasys Networks This article or section contains information about scheduled or expected future events. It may contain tentative information; the content may change as the event approaches and more information becomes available. , GlobalNetwork Technology Services, and Riverstone Networks Riverstone Networks, was a provider of networking switching hardware based in Santa Clara, California. Originally part of Cabletron Systems, and based on an early acquisition of YAGO, it was one of the many Gigabit Ethernet startups in the mid 1990's. . For more information on Cabletron Systems, visit www.cabletron.com. This release may contain projections or other 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. regarding the future financial performance of the Company or other future events and circumstances. Such forward-looking statements by their nature involve risks and uncertainties, and actual results or events could differ materially. Risks that could cause actual events or results to differ materially from those in described in the projections or forward-looking statements include business disruption and market perceptions associated with the Company's plan to transform its business into four independent operating subsidiaries, as well as risks associated with competitive conditions, pricing and margin pressures as a result of product shifts and changes in market dynamics, greater use of, and expenses associate with, distributors and resellers, limited management resources, the Company's acquisition strategy, volatility in the stock markets and market valuations being placed on communications infrastructure and service companies, technological changes, intellectual property protection and related issues, dependence on suppliers and contract manufacturers, and potential volatility in operating results, among others. For a more detailed discussion of these and other risks and uncertainties related to the company's business, please refer to the Company's most recent filings with the Securities and Exchange Commission, including the Company's most recent 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. , and the Company's other more recent reports on Form10-Q and Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . |
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