Yurie Completes Acquisition of Data Labs, Inc.
LANDOVER, Md., Dec. 2 /PRNewswire/ -- Yurie Systems, Inc. (Nasdaq: YURI - news) announced today that it has
completed its acquisition of privately held Data Labs, Inc., the Gaithersburg, Md.-based manufacturer of branch office ATM
access equipment.
Under terms of the transaction announced on Nov. 3, 1997, Yurie completed its purchase of Data Labs for 358,412 shares of
Yurie stock. The transaction will be accounted for as a pooling of interests. It will be slightly dilutive to earnings in the fourth
quarter of this year and accretive thereafter. As a result of the purchase, Yurie will recognize this quarter a one-time charge
related to various transaction costs and expenses.
Data Labs' Virtual Access (VA) product line aggregates voice, video, and data traffic onto a single wide area network link,
facilitating ATM at T1/E1 rates and lower and offering cost-effective ATM access to branch and small regional offices. Since
December 1996, Yurie Systems has resold the Data Labs VA 1000 as the LDR5.
Based in Landover, Md., Yurie Systems, Inc. designs, manufactures, markets, and services ATM WAN access equipment for
telecommunications service providers and corporate and government end users. Yurie's LDR200 ATM access concentrator
won Data Communications' Hot Product Award for WAN gear in January 1997. The Company completed its initial public
offering in February, and in May Business Week magazine named Yurie Systems America's #1 Hot Growth Company.
Dataquest and the Vertical Systems Group recently identified Yurie as the market share leader in the ATM WAN access
market for 1996 and 1997, respectively. For more information on Yurie Systems, call (301) 352-4600 or visit the Company's
Web site at yurie.com. Press releases are available through PR Newswire's Company News On-Call fax service
and on PR Newswire's web site. For a menu of Yurie's press releases or to retrieve a specific release, call 1-800-758-5804,
ext. 117326 or visit prnewswire.com.
This release may contain forward-looking statements regarding the Company's business, customer prospects or other factors
that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual
results to vary materially from those expressed in or indicated by the forward-looking statements, and should be understood in
light of the risk factors detailed in the Company's recent prospectus, 10-K and 10-Q filings.
SOURCE: Yurie Systems, Inc. |
