SANTA MONICA, Calif.--(BUSINESS WIRE)--May 14, 1998--Osicom Technologies, Inc.
(NASDAQ:FIBR), today announced that a wholly-owned subsidiary of Credit Suisse First
Boston, Inc., and an investment fund managed by Chicago-based Castle Creek Partners have
made an $8 million investment in the convertible preferred stock of the Company. Details of the
transaction, which was arranged by the investment bank of Volpe Brown Whelan & Company, are
included on Form 8-K to be filed tomorrow with the U.S. Securities and Exchange Commission.
"This funding will be used in the roll out of our new products," said John H. Gorman, Chief
Financial Officer, Osicom Technologies.
About Osicom
Osicom Technologies is a leading provider of integrated networking and bandwidth aggregation
solutions for enhancing the performance of existing data and telecommunications networks. The
Company combines expertise across multiple disciplines to offer fiber transport, remote access,
virtual private networking, video switching and transport, and network systems-on-silicon to
carrier and enterprise customers. The Company brings value to its customers by offering
end-to-end, single vendor solutions as an integrated set. Osicom's offerings feature open
architectures, offer complete scalability and fully support industry standards. The Company's
flagship products are the GigaMux family of Dense Wavelength Division Multiplexers (DWDM)
for short-haul Metro applications, the NET+ARM system-on-silicon for network connectivity,
and the IQX-200 family of scaleable Remote Access Servers.
For additional company, product or financial information, visit the Osicom website,
www.osicom.com, or call toll free 888-OSICOM8. For calls originating outside the United
States, call 301-317-7710.
Except for the historical information contained herein, the matters discussed in this news release
are forward-looking statements that involve risks and uncertainties. The forward-looking
statements in this release are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors,
including without limitation the company's ability to develop, produce, and market products that
incorporate new technology on a timely basis, that are priced competitively and achieve
significant market acceptance; higher expenses associated with the development and marketing of
new products; changes in product mix; risks of dependence on third-party component suppliers;
inventory risks due to shifts in market demand; the presence of competitors with broader product
lines and greater financial resources; intellectual property rights and litigation; needs for liquidity;
and the other risks detailed from time to time in the company's reports filed with the Securities
and Exchange Commission.
CONTACT: Osicom Technologies
John Gorman, 310/581-4030
jgorman@osicom.com
OR
Boston Communications
Kanti Purohit, 617/912-1100
kpurohit@bcww.com
|
