FOR RELEASE WEDNESDAY, OCTOBER 18, 1995
AT&T offers Paradyne subsidiary for sale
NEW YORK -- AT&T today announced it is seeking offers from other companies for the purchase of its AT&T Paradyne
subsidiary, based in Largo, Florida. AT&T Paradyne produces and develops products and licenses technologies providing
network access for multimedia communications.
The technologies it offers include its recently announced Globespan tm transceivers that provide high speed access to global
networks for applications such as Internet access and video-on-demand.
AT&T Paradyne has annual sales of approximately $300 million in more than 90 countries and a workforce of about 1,300,
according to AT&T.
"This sale will position Paradyne to market its leading edge technologies in multimedia network access to the widest possible
customer base in the future," said John Berndt, President of AT&T Multimedia Ventures and Technologies. "By separating from
AT&T, Paradyne avoids possible conflicts in selling to AT&T's competitors, yet AT&T will still have access to Paradyne's
current and future products and technologies as a customer."
According to Berndt, AT&T anticipates developing a preferred supplier relationship with Paradyne.
The offering and subsequent inquiries will be handled by Morgan Stanley & Co. Incorporated.
KEYWORDS: modem, multimedia |
