Overture Networks, Hatteras Networks To Merge

Theres a big merger pending in the Carrier Ethernet market.

Overture Networks and Hatteras Networks announced today they have signed a definitive agreement to merge the two companies. The companies say the merger creates a formidable global solutions provider for telecommunications carriers and service providers. The combined company will operate as Overture Networks.

With both headquarters based in North Carolinas Research Triangle Park, the two firms are geographically close, have nearly non-overlapping customer bases, and share similar histories and track records of success in the marketplace. Key individuals from both management teams will jointly provide the leadership, vision, and guidance needed to accelerate the momentum built through the years by Overture and Hatteras. Additionally, all existing product lines and technologies will continue to enjoy the industrys most comprehensive and responsive level of support.

We have a unique opportunity to build a great company with the innovation and scale to bring a complete set of products and services to our customers,” said Jeff Reedy, chief executive officer, Overture Networks. Our two companies have grown up together as neighbors, and we have come to appreciate each others strengths and at times envied the others successes. Having each completed record setting years, the time is right to join together and establish a dominant force in the market.”

Hatteras considers itself to be a leader in Ethernet over Bonded Copper, while Overture says its a frontrunner in Ethernet over TDM. Overture recently introduced a set of Ethernet over Fiber platforms. Leveraging the strengths and abilities that each company brings to the table, the new organization says it is primed to deliver Carrier Ethernet customers an array of innovative fiber and copper solutions ranging from 1Mbps to 10Gbps for business services, mobile and DSLAM backhaul, and packet-based infrastructure. Seven of the top eight Ethernet service providers in the U.S. and numerous large service providers across Europe, CALA, and the Asia-Pacific region currently deploy these solutions.

Financial terms of the merger were not disclosed.

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