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Technology Stocks : ADC Telecommunications -- Ignore unavailable to you. Want to Upgrade?

To: Jay Mowery who wrote (987)	8/31/2000 7:34:51 AM
From: max power	Read Replies (1) \| Respond to of 1944

ADC Expands Broadband Integration Service Capabilities Into Europe With Acquisition of France Electronique's Telecom Systems Integration Business MINNEAPOLIS & PARIS--(BUSINESS WIRE)--Aug. 31, 2000--ADC (Nasdaq: ADCT, www.adc.com), a leading global supplier of network equipment, software and integration services for broadband, multiservice networks and France Electronique, a European supplier of wireless and wireline services to the telecommunications industry, today announced they have reached an agreement for the acquisition of France Electronique's telecom systems integration business by ADC. "The strength of ADC's systems integration business in the US allows us to accelerate our European development model, and this acquisition represents our first step to extend our reach into Europe, which is poised for substantial growth," said Jo Anne Anderson, vice president and general manager of ADC's Systems Integration Division. "Our mission is to become the first choice partner of systems integration services for telecom service providers and partners throughout the world. With nearly 800 employees throughout France, France Electronique will provide ADC with critical wireless and wireline European services expertise and will position ADC as one of the top 5 systems integrators in Europe." "We are excited to join ADC in providing broadband systems integration services worldwide in order to enable communications service providers to deliver high-speed Internet, data, video and voice services to homes and businesses. ADC's global presence, financial strength, and customer-focused programs and systems will give us a tremendous opportunity to further support our existing customers as well as the ability to leverage our joint assets into new customer successes," said Patrick Chicheri, president of France Electronique. Terms of the deal were not disclosed due to the immaterial effect on ADC's consolidated financial statements. ADC expects to close this transaction in October, subject to customary conditions. ADC ESTABLISHES PRESENCE IN IMPLEMENTATION AND INTEGRATION SERVICES FOR THE FRENCH AND EUROPEAN MARKET The French telecommunications market forms an important component of ADC's pan-European systems integration strategy. As U.S.-based multi-nationals globalize and expand into France, French companies, such as France Telecom, are expanding abroad. Because of this trend, ADC is building a local presence in France to serve both sets of customers, while continuing to honor and grow France Electronique's existing business relationships. The market in Europe is poised to continue an expansion and will need companies who can leverage scales of economy while focusing and optimizing local resources. The proposed acquisition of France Electronique's telecom systems integration business will add breadth to ADC's service portfolio in the area of wireless services; such as site acquisition, negotiation and turn-key implementation. ADC and France Electronique will jointly leverage each other's existing customer relationships and offer a more complete solution portfolio. In addition, ADC will benefit from France Electronique's local knowledge and experience through France Electronique's highly competent and customer-focused personnel. "ADC's Systems Integration Division has always had a very focused market approach, centered on customer needs," said Carlos Calderon, vice president and managing director of ADC's Systems Integration Division -- International. "As our customers have grown and expanded internationally, they have asked us to provide the same level of integration services they are accustomed to. ADC has responded to this need through the proposed acquisition of France Electronique's systems integration business." FRANCE ELECTRONIQUE'S SERVICES France Electronique's systems integration services enable communications service providers to offer applications that simplify users' lives by integrating Internet, email, voicemail, fax and voice services for delivery to wireless and wireline communications devices. France Electronique's services are targeted at a wide range of global carriers and service providers, including long-distance carriers, wireless companies, BOCs, PTTs, independent telcos in emerging and deregulated markets, cable companies, next-generation telcos, ISPs, CLECs, Internet Portals and independent Internet-based service providers.