Wednesday September 6, 6:15 am Eastern Time
Press Release
Ceragon Networks Ltd., Formerly Giganet Ltd., Announces
Official NASDAQ Ticker Symbol Change to CRNT
New Name Reinforces Growth Strategy
TEL AVIV, Israel--(BUSINESS WIRE)--Sept. 6, 2000--Ceragon
Networks Ltd. (NASDAQ: CRNT - news), a global provider of
high-capacity broadband wireless systems for next generation
communications networks, announced today that its NASDAQ
National Market symbol CRNT is effective immediately. Ceragon
Networks Ltd., formerly Giganet Ltd., has changed the ticker
symbol from GGNT to CRNT.
The ticker symbol change coincides with the company's name
change in a focused initiative to communicate its evolution
toward next generation networking equipment. Ceragon Networks
Ltd. develops, manufactures and sells wireless networking
systems that enable global communications service providers
to immediately deploy high-capacity broadband infrastructures
in metropolitan areas. Ceragon's intelligent wireless
solutions create ultra-high capacity networks, allowing
operators to provide high-speed Internet access and
integrated data, video and voice services. Customers
include new and existing communications services providers
such as leading U.S. and International CLECs, ILECs, and ISPs.
``Changing the official NASDAQ ticker symbol to CRNT follows
Ceragon Networks' name change announcement. The launch of our
new name marks the progress of our company in shaping next
generation networks,'' said Shraga Katz, president and CEO,
Ceragon Networks Ltd. ``At Ceragon, our clear vision of
intelligent networks has positioned us to provide the most
robust wireless solutions for high-capacity connectivity
across metropolitan markets. Ceragon will continue to expand
its offerings to better enable communications service
providers to generate immediate revenue.''
About Ceragon Networks Ltd.
Ceragon Networks Ltd. is a pacesetter in broadband wireless
networking systems that enable global communications service
providers to immediately deploy high-capacity connectivity in
metropolitan areas. Uniquely designed for high-growth service
providers to generate immediate revenue, Ceragon's
commercially proven intelligent broadband network solutions
support high-speed Internet access and integrated data, video
and voice services. Ceragon's products enable quick and cost-
effective connections for capacity constrained business
customers within their own networks, or as a gateway
onto the backbone infrastructure. Founded in 1996 and
headquartered in Tel Aviv, Israel, with North American
headquarters in New Jersey and European Headquarters in the
UK, Ceragon Networks has achieved a global footprint with
commercial deployments in over 20 countries. More information
is available at www.ceragon.com. Ceragon Networks - the shape
of next generation networks.
About the Name ``Ceragon''
The name ``Ceragon'' is a combination of two concepts that
embody the company vision. The word is a derivation of
``paragon,'' a model of excellence, and ``cerago,'' an
ancient English word describing an element found in a
honeycomb, symbolizing tight inter-workings. Together they
form ``Ceragon'' -- a model of networking excellence.
Ceragon, as a company, stands out as it shapes the broadband
equipment market into the next generation of wireless
networks.
Giganet Ltd. is not affiliated with Giganet, Inc., a
privately held, Massachusetts-based company. As part of the
resolution of a dispute concerning the company's rights, and
the rights of Giganet, Inc. to use the name ``Giganet,''
Giganet Ltd. changed its company name to Ceragon Networks Ltd.
Certain statements concerning Ceragon's future prospects are
``forward-looking statements'' under the Private Securities
Litigation Reform Act of 1995. There can be no assurances
that future results will be achieved, and actual results
could differ materially from forecasts and estimates.
Important factors that could cause actual results to differ
materially from forecasts and estimates include: Ceragon's
limited operating history and history of losses; fluctuations
in quarterly financial performance; Ceragon's dependence on a
limited number of key customers, independent manufacturers
and suppliers; Ceragon's dependence on a limited number of
products; Ceragon's ability to increase its manufacturing
capacity; the demand for Ceragon's products; risks associated
with changes in the competitive or regulatory environment in
which Ceragon operates; and other risks described in filings
with the Securities and Exchange Commission. These risks and
uncertainties, as well as others, are discussed in greater
detail in the filings of Ceragon with the Securities and
Exchange Commission. Ceragon makes no commitment to revise or
update any forward-looking statements in order to reflect
events or circumstances after the date any such statement is
made.
Contact:
Ceragon Networks Ltd.
Laura Yatim, +972.3.765.7560
laura@ceragon.com
or
GAJ Services Inc.
Barbara Giles, 812/933-0793
bgiles@gajservices.com |
