Pat: 2 Recent TERN's news:
Tuesday March 14, 3:49 am Eastern Time
Terayon in talks to buy Israeli firm-paper
JERUSALEM, March 14 (Reuters) - Terayon Communication Systems is negotiating the purchase of
Israeli technology company Ultracom for $60-$70 million in a share swap, the Yedioth Ahronoth
newspaper said on Tuesday.
Monday March 13, 4:37 pm Eastern Time
Company Press Release
Terayon Acquires Internet Telecom Assets for Broadband
Voice over IP
Expands Terayon's Broadband Telephony Systems Portfolio
SANTA CLARA, Calif.--(BUSINESS WIRE)--March 13, 2000--Terayon Communication Systems, Inc. (Nasdaq:TERN - news), a
leading supplier of broadband network systems, today announced a definitive agreement to acquire certain assets of Internet Telecom, a
privately held supplier of sophisticated PacketCable and other standards-based, voice-over-IP (Internet Protocol) systems and
technologies. The assets of Internet Telecom complement Terayon's current broadband circuit-switched voice products, and the company
expects this to expedite delivery of voice-over-IP systems later this year.
Terayon CEO Zaki Rakib stated, ``We are very excited about the acquisition of Internet Telecom, which provides the voice technology we
need to deliver advanced voice-over-IP systems. Internet Telecom's impressive voice technology complements the robust broadband voice
systems we are shipping today, providing not only a path to highly efficient voice-over-IP systems for cable and DSL, but also a key
addition to Terayon's growing systems-on-silicon portfolio.'
Dmitry Goroshevesky, CEO and co-founder of Internet Telecom, stated, ``We are proud to join the growing Terayon team, with its
visionary approach to broadband. We look forward to implementing Internet Telecom's voice-over-IP solutions with Terayon's major
customers throughout the world.'
Daniel Oleiski, Vice President and General Manager of Terayon's Broadband Voice group, added, ``The addition of Internet Telecom's
technologies further extends Terayon's broadband voice product line to encompass systems based on both circuit switch and voice-over-IP.
I look forward to working closely with the Internet Telecom team to ensure a smooth migration to the next generation of broadband voice
systems.'
Adoram Gaash, Senior Vice President and General Manager of Terayon's Integrated DSL group, stated, ``The acquisition of Internet
Telecom complements our current IPTL xDSL platform. This will allow us to build these key voice-over-IP capabilities into our growing
DSL product line.'
The acquisition of these assets from Internet Telecom is a key step in Terayon's strategy to assemble complementary solutions for delivery
of broadband voice, data, and video over a variety of media--cable, DSL, and satellite. Internet Telecom's voice-over-IP product strength
complements Terayon's current broadband voice product line, which includes sophisticated circuit-switched broadband voice systems in
service by cable operators today.
Internet Telecom has assembled a sophisticated suite of voice-over-IP technologies and systems. Key among these are voice compression
algorithms, digital signal processing code, signaling protocols for the major worldwide telephony standards, gateways to relay voice data
and signaling information, software systems to enable communication over IP networks, and the company's Hierarchical Internet Telephony
(HIT) server to perform software-based switching functions. The systems from Internet Telecom are planned to adhere to PacketCable and
other major industry standards for system interoperability.
Under terms of the agreement, Terayon will acquire the assets of Internet Telecom in exchange for shares of its common stock worth
approximately $40 million. The acquisition will be accounted for as an acquisition of assets and is expected to close in the second quarter of
2000. This acquisition has been approved by Terayon's board of directors and is subject to various closing conditions.
Internet Telecom is a leading provider of voice-over-IP core enabling technologies to the communications equipment manufacturers, facing
the challenge of the convergence of voice and data networks. The company, based in Israel, provides its customers with fully customized or
open standards solutions that integrate voice and data over packet. Internet Telecom provides the technological implementation of IP
solutions into any kind of existing telecom or datacom equipment - PABX, Central Office, Telecom and Datacom Switch, Local Loop,
Wireless Local Loop, Router and Broadband equipment. Internet Telecom's algorithms, protocols, signaling software, design skills and
other technology provide high carrier-grade quality and performance.
Terayon Communication Systems provides innovative broadband networking solutions for advanced broadband voice, data and video
services. The company's cable data access systems, digital video systems, and broadband telephony systems are deployed by leading cable
operators worldwide. The company's xDSL access systems deliver innovative telephony and data solutions for the growing SOHO business
market. Terayon, based in Santa Clara, California, USA, has sales and support offices worldwide, and is traded on the Nasdaq under the
symbol TERN. Terayon can be found on the web at www.terayon.com.
``Safe Harbor' Statements under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained
herein, this news release contains forward-looking statements, estimates, and assumptions by the Company and other parties that involve
risks and uncertainties, including the Company's ability to gain new business, the ability of the Company to successfully integrate acquisitions,
the expansion of operations by the Company's customers and the deployment of the Company's products in specific markets, as well as the
other risks detailed from time to time in the Company's filings with the SEC.
Note: Terayon, the Terayon logo, TeraPro, TeraLink, and TeraComm are registered trademarks of Terayon Communication Systems, Inc.
TeraView and CherryPicker are trademarks of Terayon Communication Systems, Inc. All other trademarks are property of their respective
owners.
Contact:
Terayon Communication Systems
Investor Contact: Ray M. Fritz, CFO, 408/919-5806
email: rfritz@terayon.com
or
Press Contact: John Hamburger, 408/486-5273
Group Director, Corp. Communications
email: johnh@terayon.com
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Officials from Terayon (NasdaqNM:TERN - news) and Ultracom were not immediately available for comment.
On Monday, Terayon announced the purchase of certain assets of Israeli company Internet Telecom. The acquisition was made in exchange
for Terayon common stock worth $40 million.
Terayon provides solutions for advanced broadband voice, data and video services. Ultracom makes systems for high-speed voice and
data transmission over cable.
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