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Technology Stocks : TLAB info? -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (5982)	8/30/1999 4:44:00 PM
From: Brien Koehler	Read Replies (1) \| Respond to of 7342

Tellabs Completes Acquisition of NetCore Systems LISLE, Ill., Aug. 30 /PRNewswire/ -- Tellabs (Nasdaq: TLAB - news) announced today that it has completed its acquisition of NetCore Systems, Inc., a move that enhances Tellabs' strength in helping service providers build next-generation, multiservice networks. ``This acquisition accelerates our ability to deliver integrated, carrier-class IP routing and ATM switching solutions that enable operators to deploy a wide range of business services,' said Brian J. Jackman, president of Global Systems and Technology at Tellabs. NetCore Systems will form the core of Tellabs' new Internetworking Systems Division, based in Wilmington, Mass. ``We look forward to partnering with carriers worldwide to build networks that leverage IP, ATM, SONET/SDH and optics to deliver mission-critical business services to customers,' said Ashraf Dahod, vice president and general manager of the new division. The company's Everest(TM) Integrated Switch combines carrier-class IP routing and ATM switching into a single multi-layer device. This unique switch/router reduces network cost and complexity and will help carriers provide Internet, virtual private network (VPN) and other business-class services on a single platform. NetCore's technology will complement Tellabs' line of optical networking, managed access and transport systems to accelerate delivery of a broad range of multiservice IP- and ATM-based solutions. Tellabs paid approximately $575 million in stock for NetCore. Tellabs designs, manufactures, markets and services data, voice and video transport, switching/routing systems and network access systems. The company's products are used worldwide by the providers of communications services. Tellabs stock is listed on the Nasdaq Stock Market (TLAB). Tellabs and the Tellabs logo are registered trademarks of Tellabs Operations, Inc. in the United States and/or in other countries. Everest is a trademark of NetCore Systems, Inc. in the United States and/or in other countries. SOURCE: Tellabs