ADCT acquires CTI.....is this old or new?
September 15, 2000 17:54
ADC Further Expands Broadband Integration Service Capabilities Into Europe With Acquisition Of Computer Telecom Installations Ltd.
MINNEAPOLIS, MINNESOTA and SAWTRY, UNITED KINGDOM--
Proposed Acquisition Gives ADC Added Capability To Offer BroadbandService Providers Integration Solutions for Acceleration of Pan-European Network Expansion
ADC (Nasdaq:ADCT, www.adc.com), a leading global supplier of fiberoptics, network equipment, software and integration services for broadband, multiservice networks and Computer Telecom Installations Ltd. (CTi), a British company offering installation,commissioning, integration and maintenance of telecommunications networks and equipment, today announced they have completed the acquisition of CTi by ADC.
The terms of the deal were not disclosed, and the transaction willhave no material effect on ADC's consolidated financial statements.
"ADC is committed to expanding its systems integration business into Europe. This is our second announced acquisition in one month, demonstrating how seriously we take our mission to become the first choice partner of systems integration services for telecom service providers and partners throughout the world," saidJo Anne Anderson, vice president and general manager of ADC's Systems Integration Division. "With nearly 300 employees throughout the United Kingdom and Europe, CTi will further provideADC with critical network and equipment integration services expertise in Europe. When paired with our recently announced proposed acquisition of France Electronique, CTi will help ADC become one of the top five systems integrators in Europe."
"ADC offers CTi the depth and stability we need to expand our integration services and grow our position in the European market," said Erwin Vinall, managing director of CTi. "ADC has demonstrated an aggressive and thorough strategy to become the preferred integration services partner to telecom companies in Europe, and we are pleased to join them in this goal."
ADC ESTABLISHES PRESENCE IN IMPLEMENTATION AND INTEGRATION SERVICES FOR THE UK AND EUROPEAN MARKET
The European telecommunications market forms an important component of ADC's pan-European systems integration strategy. As U.S.-based multi-nationals globalize and expand into Europe, European companies also are expanding abroad. Because of this trend, ADC is building a local presence in Europe to serve both sets of customers, while continuing to honor and grow CTi's existing business relationships. In addition, our expanded local presence will allow ADC to serve local customers and PTTs. The market in Europe is poised to continue an expansion and will need companies who can leverage scales of economy while focusing and optimizing local resources.
The acquisition of CTi adds breadth to ADC's service portfolio by adding integration solutions for service providers in copper and fiber, transmission, wireless, and CATV. ADC and CTi will jointly leverage each other's existing customer relationships and offer a more complete solution portfolio. In addition, ADC will benefit from CTi's local knowledge and experience through CTi's highly competent and customer-focused personnel.
"CTi's outstanding group of employees and expertise will further strengthen ADC's value proposition to communications providers in Europe," said Carlos Calderon, vice president and managing director of ADC's Systems Integration Division -- International. "We already have had the ability to work as partners prior to thisproposed acquisition and are confident in the synergies we can leverage from each company."
CTi'S SERVICES
CTi offers a total solutions package for the installation, commissioning, integration and maintenance of telecommunications networks and equipment. CTi's package includes Site Surveys, Documentation, Cabinet Build, Installation, Commissioning, NetworkIntegration, Project Management, Network Specification, Network Planning, Circuit Routing, Network Provisioning and Maintenance.
ADC'S SYSTEM INTEGRATION BUSINESS
ADC's systems integration business is focused on delivering services to telecom service providers worldwide. The business started in the U.S. in 1995 as a result of a growing customer demand for systems integration services. Since its inception, the business has grown rapidly to become an organization of more than 2,400 employees.
About CTi
CTi, a European company offering installation, commissioning, integration and maintenance of telecommunications networks and equipment, is headquartered in Sawtry, England, and has a regionaloffice in Lyon, France. Formed in 1991, CTi employs nearly 300 people throughout the UK and Europe. In December 1999, CTi was listed at number 46 in The Sunday Times/Virgin Fast Track 100 Index. This is a list of the UK's fastest growing non-quoted companies. |
