Zhone Technologies has completed its merger with DASAN Network Solutions, Inc. to create DASAN Zhone Solutions, Inc. (NASDAQ: DZSI). The combined company, 58% owned by Korea's DASAN Networks, Inc., emerges with an expanded product line and extended global reach.
The new company, whose stock begins trading today, is the result of a deal announced this past April (see "Zhone Technologies, DASAN Network Solutions to merge"). The transaction saw Zhone acquire DASAN Network Solutions, then grant the aforementioned 58% of the combined company to DASAN Networks, Inc. Zhone's shareholders control the remaining 42%. James Norrod and Yung Kim will share CEO duties at DASAN Zhone.
"The acquisition of DASAN Network Solutions will immediately position DASAN Zhone as a leading provider of broadband access, Ethernet switching, mobile backhaul, passive optical LAN, and software-defined networks," said Norrod. "We know demand for these solutions is high and we will immediately begin co-selling to each company's loyal customer base with a unified sales and support team in every major geographic region."
DASAN Network Solutions says it counts more than 800 network operators and "a variety" of enterprise customers. The company will remain headquartered in the company's current location in Oakland, CA, with manufacturing facilities in the U.S., Korea and China. The company will also have offices in the Americas, Asia, Europe, Korea, and the Middle East.
"DASAN Zhone Solutions will deliver a broad array of products that will allow carriers and enterprises to connect at tremendous speeds," said Kim. "We will provide significant investment resources and our highly-talented teams will deliver the best communication products in the world."
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