TranSwitch Corporation completes acquisition of ONEX Communications Corporation

Sept. 24, 2001--TranSwitch Corporation has completed the previously announced pending acquisition of privately held ONEX Communications Corporation, which develops System Silicon Solutions for multi-service platforms.

Sep 24th, 2001

TranSwitch Corporation (NASDAQ:TXCC) reported it has completed the previously announced pending acquisition of privately held ONEX Communications Corporation, ("ONEX"), which develops System Silicon Solutions for multi-service platforms. In connection with the acquisition, TranSwitch issued approximately 6 million shares of its common stock and paid approximately $20 million in cash. ONEX, based in Bedford, Massachusetts, will operate as a wholly owned subsidiary of TranSwitch.

ONEX brings to TranSwitch expertise in developing VLSI solutions for metropolitan area networks. Currently, ONEX is developing System Silicon Solutions that enable equipment vendors to combine network routing, switching and transmission capabilities with increased performance and improved economics. ONEX's architecture provides scalable processing and switching of all major traffic types including TDM, ATM, IP and MPLS and addresses the full requirements for carrier class multi-service platforms.

About TranSwitch Corporation:

TranSwitch Corporation, headquartered in Shelton, Connecticut, is a developer and global supplier of high-speed VLSI semiconductor solutions to original equipment manufacturers who serve the Worldwide Public Network Infrastructure, the Internet Infrastructure, and corporate Wide Area Networks (WANs). For more information, visit www.transwitch.com.

About ONEX Communications Corporation:

ONEX Communications Inc. is a provider of System Silicon to telecom equipment vendors.

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