Cabletron finalizes agreement to acquire SMC Switching Group.ROCHESTER, N.H.--(BUSINESS WIRE)--Jan. 15, 1996 -- Cabletron Systems (NYSE NYSE See: New York Stock Exchange :CS) announced today it has completed its acquisition of the Enterprise Networks Switching Group of Standard Microsystems Corporation (SMC SMC Saint Mary's College SMC Santa Monica College SMC Solaris Management Console SMC Smooth Muscle Cell SMC Small Magellanic Cloud (also see LMC) SMC Safety Management Certificate (maritime shipping) ), a leading supplier of high performance 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. (Local Area Network) technologies. Cabletron is acquiring the assets and technology of SMC's Enterprise Networks Switching Group located in Andover, MA, for $75.9 million in cash and the assumption of certain specified liabilities. The acquisition augments Cabletron's extensive high-end SmartSwitch family allowing the company to deliver a comprehensive line of Fast Ethernet An earlier name for 100Mbps Ethernet. See 100Base-T. (networking) Fast Ethernet - A version of Ethernet developed in the 1990s(?) which can carry 100 Mbps compared with standard Ethernet's 10 Mbps. It requires upgraded network cards and hubs. products for enterprise-wide switching applications. The acquisition significantly expands Cabletron's presence in the Fast Ethernet market, providing scaleable Fast Ethernet switching solutions for small, medium and large networks. "We are very pleased with the smooth integration of the former SMC Enterprise Switching Group into Cabletron," said S. Robert Levine, Cabletron's president and chief executive officer. "Combining Cabletron's leading-edge LAN switching
LAN switching is a form of packet switching used in local area networks. Switching technologies are crucial to network design, or to that minority of LANs that are used outside the home. and management technologies with SMC's Fast Ethernet products gives our customers the widest range of switching solutions available today," Levine said. Cabletron Systems is the largest company in the world dedicated exclusively to computer networking products and services. With corporate headquarters in Rochester, NH, the company has 90 offices around the world and employs 5,500 people. Based on its Synthesis product framework Cabletron develops, manufactures, markets and services both shared and internetworking products, as well as the industry's most advanced network and systems management software. Cabletron directly services customer sites around the globe and provides 7 X 24 support coverage, including free telephone support during normal business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a . A component of the S&P 500 index, Cabletron's common stock is traded over the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CS. Over the last four quarters the company has reported record revenue of approximately $1 billion and earnings of $202 million. CONTACT: Mike Deshaies Cabletron Systems (603) 337-1402 e-mail:deshaies@ctron.com |
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