Sonus Networks makes $15M Time Warner deal
Boston Business Journal
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1:05 PM EST Monday
Sonus Networks Inc. reportedly is selling at least $15 million in data switches to Time Warner Telecom Inc., which carries voice and data communications for corporations.
ThinkEquity Partners LLC, which has a Boston office, reported the deal, according to Light Reading, an industry trade publication based in New York City, and said it could be worth as much as $20 million for Sonus.
Chelmsford-based Sonus' gateways and software are used to convert signals into Internet protocol, and control how calls are connected. It first established a relationship with Colorado-based Time Warner Telecom (NASDAQ: TWTC) in 2000.
In the third quarter, Sonus had a $10.3 million profit on sales of $46.8 million.
The company is expected to report its year-end figures on March 3. A year ago this week, Sonus (Nasdaq: SONS) delayed filing its fiscal 2003 results, and later admitted to filing inaccurate financial documents stretching back years. The scandal led to the company overhauling its finance and accounting departments. It hired former Manufacturers' Services Ltd. executive Albert Notini as president, and last week appointed Ellen Richstone chief financial officer, who previously was CFO of Brooks Automation Inc. in Chelmsford. |
