JW Here are a few Board Members with connections.
E/O NETWORKS RECEIVES $14 MILLION, NAMES TWO
NEW BOARD MEMBERS
HAYWARD, CALIF. - August - 14, 1996 - E/O Networks announced today that it has completed its series D round of private financing, netting the company a total of $14 million. A total of $6 million was contributed by Sandhill Financial Corporation and Coral Partners, venture capital investors. PairGain Technologies (NASDAQ symbol PAIR), best known as a manufacturer of HDSL (High Speed Digital Subscriber Line) equipment also became an investor in this round of financing. The remainder of the investment was contributed by existing investors, private investors, and E/O Networks' employees.
"We hope that this will be the last round of private financing the company will require," said Al Negrin, E/O Network's president and CEO. "The money raised will go towards increasing research and development, expanding the company's sales and marketing organization, and for new facilities for both engineering and manufacturing," Negrin added.
Board members added
E/O Networks also announced today the addition of Donald L. Lucas of Sandhill Financial Corporation to its Board of Directors. In another change to E/O Networks' Board of Directors, Guy Gill of Nortel replaced Wayne Fothergill, also of Nortel, who has been transferred to an overseas management assignment.
Mr. Lucas currently serves on the board of directors of ten public companies including Oracle Corporation and Cadence Design Systems, Inc. and is also a director of several privately held companies.
Mr. Gill is vice president and general manager of Northern Telecom, Access Networks Division. He joined Nortel in 1976 and has held various management positions in finance, marketing, sales, and general management.
E/O Networks manufactures FDS-1--a low-cost, fiber-based telecommunications access system that provides improved telephony, video and data services using a unique fiber ring architecture. The FDS-1 is specifically designed to satisfy the requirements of rural and other low density telephone service providers.
"E/O Networks is well placed to capitalize on the deregulation of the United States public telephone network and the tremendous expansion of telephone networks in emerging nations with the FDS-1," Negrin concluded.
E/O Networks is a privately held, venture-backed company headquartered at 3988 Trust Way, Hayward, CA 94545-6927. Phone: (510) 264-3800, fax: (510) 780-0426.
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also This 1/96
It's not difficult to spot insider selling these days. Here are some technology-oriented companies whose insiders have been lightening up:
Cadence Design Systems - (CDN) Although insiders at Cadence Design Systems have been decreasing their holdings since September, the latest round of selling increased the 1995 sale total to 468,572 shares (the largest annual total since '91). From November 8 to December 14, four insiders sold 225,900 option-related shares at $35.84-$38 each. Director James Solomon disposed of 150,000 shares, increasing his '95 sale total to 251,900. For Solomon, 1995 represented his largest annual sale total since he commenced filing in '89. Director Liu Leonard, a filer since '89, completed his first open-market sale in May '95. With his recent sales, Leonard decreased his holdings by an additional 45,000 shares. VP H. Bingham trimmed 25,000 shares from his position. This transaction was Bingham's first open-market sale since becoming a filer in '93. Finally,
Director Donald Lucas sold 5,000 shares at $36 each. Cadence Design Systems develops electronic automation software products that enhance integrated circuits and electronic systems. |
