CrossKeys closes deal to acquire US-based Dynamic Broadband Networks: CrossKeys reach extended into multiple Internet access markets.Business Editors KANATA, ONTARIO--(BUSINESS WIRE)--Jan. 18, 2000 CrossKeys Systems Corporation (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 :CKEY) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CKY CKY Camp Kill Yourself (band) CKY Conakry, Guinea - Conakry (Airport Code) .) today announced the completion of its acquisition of Dynamic Broadband Networks  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. (Dyband), based in Allentown, Pennsylvania. Through the procurement of Dyband, which develops broadband access See broadband and wireless broadband. management technology and software that manages cable, wireline (xDSL), satellite and wireless Internet access See how to access the Internet. services, CrossKeys can now offer service level and performance management expertise from the telecom network backbone all the way to the end-customer. "This transaction allows CrossKeys to integrate its core network expertise with the critical 'last mile' solution to manage traffic effectively from end to end," says Ian McLaren, President 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. , CrossKeys. "CrossKeys will deliver products to address the rapidly growing broadband access market. Service providers require this management software in order to deliver on the promise of high-speed Internet access and to make such access profitable." This acquisition opens up new market opportunities for CrossKeys and expands the portfolio offered to existing customers. Telecom service providers and broadband access providers will be able to deploy CrossKeys products to ensure fast, reliable Internet access for their subscribers. Consideration for the acquisition includes a cash payment of US$10 million, together with warrants to purchase up to 2 million common shares with an exercise price in the range of US$6.75 to US$9.00. These common share purchase warrants are issued subject to the achievement of specified performance targets and for the purposes of senior employee retention. The management and technology leadership of Dyband has transferred to CrossKeys. About CrossKeys CrossKeys Systems Corporation (www.crosskeys.com) develops and supports carrier-scale software that enables the world's largest and most demanding service providers to manage the equipment and traffic on their telecom networks. CrossKeys has demonstrated experience with multi-vendor and multi-technology networks. This expertise enables service providers to offer business applications, such as eCommerce and VPNs, with the minimum of infrastructure investment and the competitive guarantees that enterprise end-customers require. CrossKeys Systems Corporation is a public company whose common shares are listed for trading on NASDAQ (CKEY) in the United States and on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (CKY) in Canada. CrossKeys and logo are registered trademarks of CrossKeys Systems Corporation. All other trademarks are the property of their respective holders and are acknowledged by CrossKeys Systems Corporation. See Related News Releases: -- December 21, 1999 - CrossKeys to Acquire US-Based Dynamic Broadband Networks (with Broadband Access Backgrounder) |
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