Accordingly, there is no assurance that the expectations of Ribbon or ECI will be realized. Our new organization will leverage the strength and presence of our global sales force to create a very formidable market leader in the communications industry. Barclays acted as a financial advisor to ECI and Davis Polk & Wardwell LLP and FBC & Co. served as ECI's legal advisors. @ITManagerCIO forecasts further IT job market losses due to second #COVID19 shutdown. In addition, ECI stockholders will also receive approximately $31 million from ECI's sale of real estate assets. TAP Advisors and Citizens Capital Markets acted as financial advisors to Ribbon and Latham & Watkins LLP and GKH Law Offices served as Ribbon's legal advisors. “We are excited to join forces with Ribbon, bringing together Ribbon’s and ECI’s rich portfolios of communications solutions. Align with Ribbon's strategic direction to expand its ecosystem, penetrate new adjacent markets and position the company for sustained growth. http… While Ribbon may elect to update forward-looking statements at some point, Ribbon specifically disclaims any obligation to do so. The proposed transaction has been unanimously approved by Ribbon's board of directors and is subject to the approval of Ribbon's stockholders, regulatory approvals and customary closing conditions. Terms and Conditions. November 10 2020 @ 22:33:32 UTC, See the latest announcements from @TBImasteragent, @masergy and @lumentechco. from 8 AM - 9 PM ET, Copyright © 2020 PR Newswire Association LLC. For further information regarding risks and uncertainties associated with Ribbon's business, please refer to the "Risk Factors" section of Ribbon's most recent annual or quarterly report filed with the SEC. While Ribbon may elect to update forward-looking statements at some point, Ribbon specifically disclaims any obligation to do so. To learn more, visit ribboncommunications.com. “We aim to create a powerhouse company that offers world-class products for an enhanced customer experience, benefiting our combined global customer base.”. Both companies enjoy a distinguished operating history and are trusted suppliers to the world’s leading telecommunication service providers and enterprises,” added Darryl Edwards, president and chief executive officer of ECI. This follows, Ribbon Communications appointed Sam Bucci as EVP & General Manager, Packet Optical Networks, a newly created position following, Ribbon Communications joined the IBM Cloud for Financial Services ecosystem and intends to add its UCaaS offering to the, Slicing enables the distinct service classes that are integral to 5G. Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the shareholders of Ribbon, respectively, in connection with the proposed transactions, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement when it is filed with the SEC. ECI Telecom Group provides optical transport and SDN/NFV solutions and in addition to the cash pay out, ECI stockholders will also receive $31 from ECi’s sale of real estate assets. Therefore, you should not place undue reliance on such statements. Investor RelationsMonica Gould+1 (212) 871-3927IR@rbbn.com, Lindsay Savarese+1 (212) 331-8417IR@rbbn.com, North America PressDennis Watson+1 (214) 695-2224dwatson@rbbn.com, International PressCatherine Berthier+1 (646) 741-1974cberthier@rbbn.com, Industry Analyst RelationsMichael Cooper+1 (708) 383-3387mcooper@rbbn.com, View original content to download multimedia:http://www.prnewswire.com/news-releases/ribbon-communications-inc-completes-merger-with-eci-telecom-group-ltd-301015822.html. dlvr.it/RlQDsK Ribbon anticipates the acquisition will close in the first quarter of 2020. tp:events, Corporate HQ
Important Information Regarding Forward-Looking Statements. You should carefully consider the foregoing factors and the other risks and uncertainties that affect the parties' businesses, including those described in Ribbon's Annual Report on Form 10-K/A, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed from time to time with the SEC. CEO Bruce McClelland said the company's Cloud & Edge business also benefited from strong software sales and improved operating expenses. The CEO expects further improvement in the fourth quarter. dlvr.it/RlKkWk ECI Bangalore R&D ECI Telecom India Pvt. This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. ", "This transformational transaction accelerates our strategy to position the company into higher growth markets," said Daryl Raiford, Chief Financial Officer of Ribbon. Ribbon Communications announced RingLogix deployed Ribbon's Session Border Controller Software Edition Lite (SBC SWe Lite) to, Ribbon Communications has again teamed up with Telecom Italia (TIM) to upgrade the capacity of Lepida ScpA's broadband network in, Ribbon Communications announced two additions to its Apollo 9900 Optical Transport Network switching portfolio, the Apollo 9901X, Ribbon Communications Inc is providing Brazilian operator Vivo with its Session Border Controller Software Edition (SBC SWe) and, UK telecoms provider TalkTalk has selected the Ribbon Analytics platform from Ribbon Communications, provider of real-time, Ribbon Communications has started offering its SBC software on the AWS Marketplace under a 'pay as you go' model. At the same time, Franklin Hobbs, Ribbon’s president and CEO, has left the company. 3 ECI's Adjusted EBITDA is obtained from ECI's financial statements as conformed to US GAAP and Ribbon's accounting practices. Dial-in number (Intl): 201-389-0925 We wish to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. ECI Telecom Group provides optical transport and SDN/NFV solutions and in addition to the cash pay out, ECI stockholders will also receive $31 from ECi’s sale of real estate assets. The combination also enables Ribbon to significantly increase its scale, total addressable market and global footprint in service provider networks, enterprises and critical infrastructure companies, such as utilities and data center operators.