Cabletron Systems Finalizes Acquisition of FlowPoint.ROCHESTER, N.H.--(BUSINESS WIRE)--Sept. 21, 1998-- Remote Access Products Added to Family of Networking Solutions Cabletron Systems, Inc. (NYSE NYSE See: New York Stock Exchange :CS) today announced that on September 8, 1998 it finalized See finalization. the acquisition of FlowPoint Corporation, an international provider of remote access networking products. The acquisition is the cornerstone cornerstone Ceremonial building block, dated or otherwise inscribed, usually placed in an outer wall of a building to commemorate its dedication. Often the stone is hollowed out to contain newspapers, photographs, or other documents reflecting current customs, with a view to of a broadband initiative designed to address Service Provider's growing demand for high bandwidth, more reliable networking solutions. FlowPoint's contribution to Cabletron' family of products will focus on multiple Digital Subscriber Line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) routers that use regular telephone lines to provide seamless high-speed access to information on the internet and corporate remote access Wide Area Networks (WANs). Under terms of the purchase announced on June 11, 1998, Cabletron has completed the first of four quarterly payments for the 65 percent of the stock not previously owned by Cabletron. The remaining terms of the acquisition are described in a Registration Statement on Form S-4, originally filed with the Securities and Exchange Commission on July 29, 1998. The Los Gatos Los Gatos (lôs gä`tōs, lŏs, găt`əs), city (1990 pop. 27,357), Santa Clara co., W Calif.; inc. 1887. It is an affluent residential community and health resort. , CA, FlowPoint Corporation is now a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Cabletron Systems. Chuck Waggoner remains at the helm of the FlowPoint as president and he becomes a vice president of Cabletron Systems. Waggoner said, "We are extremely pleased to be part of Cabletron Systems. Cabletron's reputation, technical expertise, and infrastructure will advance the reach of FlowPoint by several levels of magnitude and FlowPoint has exactly the right products to expand Cabletron's full reaching family of Wide Area Networking products." About Cabletron Cabletron Systems, the premier provider of enterprise and carrier-class networking solutions, offers dependable network access and communications to millions of people throughout the world under its Smart Networking architecture. With scaleable products designed for Fortune 1000 enterprise networks, service providers and small businesses, Cabletron provides simple, reliable and cost-effective business solutions for the information age. Certain statements in this press release concerning FlowPoint and Cabletron constitute forward looking information. The actual results achieved by Cabletron following the acquisition could differ materially. Among the factors that could cause actual results to differ are delays in completing the development and introduction of products based upon FlowPoint's technology, technological or manufacturing problems in achieving expected performance, competition from existing competitive products and new products expected to be introduced, the difficulty of integrating FlowPoint and Cabletron, including the difficulty of coordinating geographically separated organizations, and the distraction Distraction Divination (See OMEN.) Porlock a “person from Porlock” interrupted Coleridge while he was recollecting the dream on which he based “Kubla Khan”. [Br. Lit.: Poems of Coleridge in Magill IV, 756] from day-to-day business resulting from the required dedication of management resources. For a more detailed discussion of the risks and uncertainties related to the Company's business, please refer to the Company'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 fiscal 1998. and Registration Statement on Form S-4, originally filed with the Securities and Exchange Commission on July 29, 1998. Cabletron's World Wide Web site can be reached on the Internet at http://www.cabletron.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion