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Telecommunications Private investors to acquire NSX-listed Enterasys
Telecommunications Private investors to acquire NSX-listed Enterasys | Private investors to acquire NSX-listed Enterasys |
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| by Stuart Corner | |
| Wednesday, 16 November 2005 | |
  
Enterasys directors have unanimously approved the offer which will see shareholders get $US13.92 per share in cash, a premium of 32 percent over the current share price. The transaction is expected to be completed in the first quarter of fiscal 2006. Enterasys president and CEO, Mark Aslett, said: "The price reflects our success in repositioning Enterasys and returning it to a solid operational and financial position, as demonstrated by our strong Q3 results...We believe operating as a private company with the backing of Gores and Tennenbaum will enable us to capture market opportunities not available to Enterasys today. Both investment firms have a long-term view and established track records of successfully working with company management to help companies succeed, especially in industries expected to see significant change." Enterasys provides enterprise customers with network infrastructure products and services "that deliver the security, productivity and adaptability benefits required by Global 2000 organisations." Its products include multilayer switches, core routers, WAN routers, wireless LANs, network management, and intrusion defence systems. |
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