Ascend Announces Continued Divestiture of Stratus Non-Telecom Businesses; Sale of former Stratus financial software joint venture consistent with Ascend's divestment strategy
08:30 a.m. Jan 19, 1999 Eastern
ALAMEDA, Calif.--(BUSINESS WIRE)--January 19, 1999--Ascend Communications, Inc. (Nasdaq:ASND), a leader in wide-area networking (WAN) and Intelligent Network (IN) solutions for providers and users of the next generation public network, today announced the sale of its interest in the former Status Computer Inc.'s financial software joint venture (Astria) to French based Atos, a leading European information technology services provider. Definitive agreements regarding the sale of remaining Stratus non-telco units, TCAM and S2 are continuing as planned.
As specified within the terms of the agreement, Atos has purchased all shares of capital stock originally held by Stratus Computer SA for Astria SA, the financial software joint venture of the former Stratus Computer Inc. This latest transaction is consistant with Ascend's commitment to divest itself of all non-telecomm related business units of Stratus Computer Inc. which it acquired on October 19, 1998.
"The agreement with Atos demonstrates that we are progressing with our commitment to divest all non-telco related businesses of the former Status Computer, Inc.," said Ken Fehrnstrom, vice president of business development for Ascend. "This transcation is nothing more than a continuation of our strategy, to leverage only those partnerships that support our number one position within the data networking world."
Editors note: For more information on Atos please go to atos-group.com. About Ascend Communications
Ascend Communications, Inc. develops, manufactures, sells and services wide area networking solutions for telecommunications carriers, Internet service providers and corporate customers worldwide.
For more information about Ascend and its products, please visit the Ascend web site at www.ascend.com, or send e-mail to info@ascend.com. Ascend is headquartered at One Ascend Plaza, 1701 Harbor Bay Parkway, Alameda, Calif. 94502; phone is 800/ASCEND4 and fax is 510/814-2300.
The foregoing statements may contain forward looking statements that are based on current expectations and involve risks and uncertainties. Actual results could differ materially from these expectations as a result of factors including, but not limited to, the Company's success in developing, introducing or shipping new products, competition, the mix of distribution channels employed, the Company's dependence on single or limited source suppliers for certain components used in its products, risks inherent in international sales, seasonality and general economic conditions. These and other factors are discussed in Ascend's 10-K, 10-Q and other filings made periodically with the Securities and Exchange Commission.
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