Interesting release: New SFE company 75% interest is substantial block, and CCSC pres did quite well before
Tuesday June 29, 8:39 am Eastern Time
Company Press Release
SOURCE: Safeguard Scientifics, Inc.
Safeguard Scientifics Acquires Interest in SOTAS; A New Partnership
Company to Support Safeguard's Network Infrastructure Strategy
WAYNE, Pa., June 29 /PRNewswire/ -- Safeguard Scientifics, Inc. (NYSE: SFE - news), the New York Stock Exchange-listed information technology (IT)
holding company that identifies, acquires, operates, and manages IT companies, announces that it has acquired a 75% interest in SOTAS, Inc., a leading
manufacturer of telecommunications equipment that verifies the quality and integrity of telecommunication networks around the world.
SOTAS has grown into a global company by providing internationally recognized telecommunications carriers with end-to-end network performance
monitoring and management. Through its main product line, the Optical Service Unit (OSU) Network Interface, SOTAS offers a unique solution to monitoring
optical network integrity. Using proprietary software, the OSU converts optical signals employing different standards around the world and monitors
interconnected optical networks. The OSU enables carriers to manage network integrity and pinpoints faults, even those originating in competitor and customer
networks.
Dan McGinnis, former president and CEO of Coherent Communications Systems, a Safeguard partnership company that merged with Tellabs in August 1998,
has become president and CEO of SOTAS effective June 1999. Dan's telecommunications background and leadership experience with Coherent match
perfectly with the requirements of this position. Peter Willson, SOTAS' founder and former president, will remain at SOTAS as chief technology officer,
heading product development for the company.
Jerry Johnson, executive vice president of Safeguard, stated, ''SOTAS' comprehensive network quality assurance capabilities and global customer base make
an excellent fit with Safeguard's targeted technology growth areas. With leading-edge capabilities such as fault finding in optical networks and voice over
packet testing and the verification of billing systems, we are confident that the demand for SOTAS' products and services will grow at an increasing rate as the
world's networks become more complex.''
''As a major developer and operator of technology businesses, Safeguard brings superior operational and management support as well as partnering
opportunities that will be a major asset in our rapid growth strategy,'' said Dan McGinnis, president of SOTAS.
About SOTAS
SOTAS, Inc., based in Gaithersburg, MD, designs and manufactures products to ensure the integrity of domestic and international telecommunications systems.
Established in 1989, SOTAS supports a customer base of world-class telecommunications carriers and global corporations, including AT&T, MCI
Worldcom, Concert, British Telecom, and SITA/Equant. SOTAS serves the growing markets for analog, digital, and fiber-optic systems through four
complementary product lines: TQMS, OSU ''Network Interface, Circuitsentry,'' and SmartCircuits. SOTAS also provides turnkey network monitoring and
analysis services to IXCs and CLECs. For additional information, visit www.sotasinc.com.
About Safeguard
Safeguard is an information technology (IT) holding company that identifies, acquires, operates, and manages IT companies and has interests in private equity
funds that together form a community of shared resources. Safeguard's focus is on IT companies with particular emphasis on companies engaged in
eCommerce, network infrastructure activities, and enterprise applications. Safeguard believes that these sectors will provide compelling opportunities for
success driven by the rapid growth of the Internet as a fundamental business tool. A long-term partner, Safeguard works closely with its partnership companies
and actively assists them with their management, operations, and finances to build value in preparation for initial public offerings and beyond. Safeguard also
assists in managing and working with seven venture capital funds.
SOURCE: Safeguard Scientifics, Inc.
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