Sonus and GENBAND Provide Update on Proposed Combination

9/25/17

Sonus Networks, Inc. (Nasdaq: SONS), a global leader in securing cloud and real-time communications, and GENBAND, a leading provider of carrier and enterprise network transformation and real-time communications solutions, today announced that the Registration Statement on Form S-4 filed by Solstice Sapphire Investments, Inc., a wholly-owned subsidiary of Sonus formed to act as a holding company in connection with the transaction, has been declared effective by the Securities and Exchange Commission in connection with the proposed combination of Sonus and GENBAND.

Sonus also announced that it has scheduled a special meeting of stockholders for Sonus stockholders to vote on the transaction. The Sonus special meeting will be held on October 26, 2017 at 10:00 a.m., local time, at the offices of Wilmer Cutler Pickering Hale and Dorr LLP, located at 60 State Street in Boston, Massachusetts 02109. Sonus stockholders of record as of the close of business on August 30, 2017 are entitled to vote at the Sonus special meeting.

The registration statement containing the joint proxy statement/prospectus is available through the SEC's website at www.sec.gov or via Sonus' IR website at investors.sonusnet.com. Sonus commenced mailing the joint proxy statement/prospectus to stockholders on Friday, September 22, 2017. Stockholders holding shares in brokerage accounts should receive the joint proxy statement/prospectus from their broker. The joint proxy statement/prospectus provides important information about the proposed transaction, as well as voting instructions.

Since announcing the transaction on May 23, 2017, Sonus and GENBAND have made significant progress toward closing, including receipt of regulatory approvals and conducting a review of the combined company's leadership structure.

The board of directors of the combined company is expected to consist of the following individuals:

  • Richard J. Lynch, Chairman
  • Raymond P. Dolan, President, CEO and Director
  • Kim S. Fennebresque, Director
  • Bruns H. Grayson, Director
  • Franklin (Fritz) W. Hobbs, Director
  • Beatriz V. Infante, Director
  • Kent J. Mathy, Director
  • Scott E. Schubert, Director
  • Rick W. Smith, Director

The combined executive team is expected to consist of the following individuals:

  • Raymond Dolan, President and Chief Executive Officer
  • Daryl Raiford, Chief Financial Officer/Finance
  • David Walsh, Kandy, Corporate Development, Integration
  • Mike Swade, Worldwide Sales – Core
  • Patrick Joggerst, Worldwide Marketing, Growth-related Worldwide Sales
  • Kevin Riley, Global CTO, including Growth-related R&D
  • John McCready, Core Research & Development, Product Lifecycle Management
  • Steven Bruny, Global Operations, including Services and Manufacturing

This operational team will be supported by leaders from both companies in administrative functions such as information technology, human resources, and law.

The transaction is expected to close in the fourth quarter of 2017, and is subject to Sonus and GENBAND stockholder approval and other customary closing conditions.

About Sonus Networks

Sonus brings intelligence and security to real-time communications. By helping the world embrace the next generation of cloud-based SIP and 4G/LTE solutions, Sonus enables and secures latency-sensitive, mission critical traffic for VoIP, video, instant messaging and online collaboration. With Sonus, enterprises can give priority to real-time communications based on smart business rules while service providers can offer reliable, comprehensive and secure on-demand network services to their customers. With solutions deployed in more than 100 countries and more than two decades of experience, Sonus offers a complete portfolio of hardware-based and virtualized session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications, media and signaling gateways and network analytics tools. For more information, visit www.sonus.net or call 1-855-GO-SONUS.

About GENBAND

GENBAND is a global leader in real-time communications software solutions for service providers, enterprises, independent software vendors, systems integrators and developers in over 80 countries. The company's Network Modernization, Unified Communications, Mobility and Embedded Communications solutions enable its customers to quickly capitalize on growing market segments and introduce differentiating products, applications and services. GENBAND's market-leading solutions, which are deployable in the network, on premise or through the cloud, help its customers connect people to each other and address the growing demands of today's consumers and businesses for real-time communications wherever they happen to be. GENBAND's award-winning Marketing Advantage Program offers partners free resources, training and campaigns to fuel their success in implementing GENBAND powered services. To learn more visit GENBAND.com.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.