Zhone Technologies Announces Acquisition of DZS Assets
Launches as a global provider of Fiber Optic Broadband Solutions and Cloud Software Services
PLANO, Texas, May 5, 2025 /CNW/ - Zhone Technologies, Inc. ("Zhone" or the "Company") today announced the successful closing of its acquisition (the "Transaction") of substantially all of the assets of DZS Inc., DZS Services Inc. and DZS California Inc. (collectively, " DZS"), including all technology, intellectual property, lab facilities, IT systems, and certain customer and supplier contracts (the " DZS Assets") pursuant to an Asset Purchase Agreement dated as of April 22, 2025 among Zhone and the duly appointed trustee of the DZS Assets (the " Trustee"). The Transaction was completed on May 1, 2025, following the approval and entry of an order by the United States Bankruptcy Court for the Eastern District of Texas approving the sale of the DZS Assets to Zhone.
Clayton Zekelman, the Chairman and Chief Executive Officer of Zhone stated, "We are very excited to complete this strategic acquisition and we look forward to working collaboratively with all of the stakeholders of Zhone moving forward."
Mr. Zekelman added, "Our team has worked tirelessly within the United States Bankruptcy Court proceedings to reestablish and renew forward-looking partnerships with key third-party development (ODM) and contract manufacturers. These relationships are critical to securing vital silicon chip technology, manufacturing, IT systems, and globally established facilities that will support Zhone's long-term growth."
As part of the Transaction, Zhone also exercised its option to acquire all of the issued and outstanding shares of four international subsidiaries of DZS, specifically DZS International Inc., DZS Canada Inc., DZS Solutions India Private Limited, and NetComm Wireless Pty Ltd. (" NetComm") and is separately acquiring the assets of , NetComm pursuant to a separate administration proceedings in Australia (collectively, the " DZS International Subsidiaries").
The acquisition of the former DZS International Subsidiaries aligns with Zhone's broader strategic objective to acquire substantially all of the former DZS assets worldwide. The completion of these international transactions will not only facilitate reengagement of former DZS employees, but will also bolster Zhone's market-leading portfolio to include Fiber Extension Distribution Point Unit (DPU) solutions, Fixed Wireless Access (FWA) solutions, and next-generation WiFi Gateway and Access Point CPE solutions.
The acquisition of the DZS Assets and the DZS International Subsidiaries by Zhone, which was first announced via a letter of intent on April 7, 2025 by an affiliate of Zhone, positions the Company as a strong and financially stable global player in the fiber optic broadband industry. Zhone is now poised to leverage the leading technologies and innovations associated with DZS's Velocity TM Optical Line Terminal Systems (OLT), Saber TM Optical DWDM Transport & ROADM Systems, Helix TM Optical Network Terminals (ONT), WiFi Gateways (CPE) and Access Points (AP) as well as Zhone Xtreme TM Cloud Management, Automation and Orchestration Software portfolio.
The Company will be headquartered in Plano, Texas, and is committed to maintaining continuity of service for its valued customers, while focusing on the integration and advancement of key technology platforms. Additionally, the Company is actively working to rehire many of the current and former employees of DZS, ensuring that the talent and expertise of the predecessor organization is preserved and further expanded within Zhone .
Zhone's focused mission over the immediate term will be to execute and deliver by restoring its technical support services (Zhone Customer Care & Success Programs) to its well-established 25+ year customer base. A key priority will also be to reestablish supply chain operations in order to fulfill purchase order backlog and resume shipments to highly valued customers and channel partners who have remained committed and patient throughout the sale process for the DZS Assets. Following the successful execution of these initial priorities, Zhone will shift toward expansion and embracing new customers and forming strategic partnerships driven by continued innovation and solutions advancement. Zhone's strategic vision is centered on innovation, execution, and the continued development of cutting-edge products and services for the global fiber broadband market.
Advisors
Bennett Jones LLP and Dykema Gossett PLLC acted as counsel to Zhone Technologies, Inc.. Singer and Levick, P.C. acted as general counsel to the duly appointed Trustee, Grable Martin PLLC acted as special counsel to the Trustee for the Transaction, and Charlie Vogt of Normandy Lane LLC consulting and advisory services, and former CEO of DZS, acted as special consultant to the Trustee for the Transaction.
About Zhone Technologies, Inc.
Zhone Technologies, Inc. is a leading global provider of fiber optic broadband solutions and cloud software services. Zhone Technologies, Inc. aims to accelerate the growth of the FTTx and cloud software markets by leveraging over 25 years of technology innovation. The Company is headquartered in Plano, Texas, and serves a global customer base with a focus on innovative, high-performance solutions. The shareholder base of the Company brings with it over 25 years of experience in the international telecom industry and other leading industries, operational expertise, financial stability and a continued track record for advancing innovation.
SOURCE Zhone Technologies, Inc.
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Cision Canada
5 days ago
- Cision Canada
FRONTERA ENERGY CORPORATION ANNOUNCES INCREASE IN CONSIDERATION AND MAXIMUM TENDER AMOUNT, AND AMENDMENT TO CERTAIN OTHER TERMS OF THE TENDER OFFER AND CONSENT SOLICITATION FOR ITS OUTSTANDING 7.875% SENIOR NOTES DUE 2028
TORONTO, June 2, 2025 /CNW/ - Frontera Energy Corporation (TSX: FEC) (the " Company" or " Frontera") hereby announces the changes set forth below to the Company's previously announced cash tender offer (the "Offer") and consent solicitation (the "Solicitation") of its outstanding 7.875% Senior Notes due 2028 (the "Notes"), made upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated as of May 9, 2025 (as amended prior to the date hereof, the " Offer to Purchase"). Capitalized terms used but not defined in this press release have the meaning set forth in the Offer to Purchase. As of May 30, 2025, Holders of U.S.$124,134,000 aggregate principal amount of the Notes had either tendered their Notes or provided their standalone Consents in the Offer and the Solicitation, as follows: (i) Holders of U.S.$73,266,000 aggregate principal amount of the Notes had tendered their Notes; and (ii) Holders of U.S.$50,868,000 aggregate principal amount of the Notes had delivered their standalone Consents. Summary of the amendments to the Offer and Solicitation: The Maximum Tender Amount will be increased from U.S.$65 million to U.S.$80 million (the " Amended Maximum Tender Amount"). 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Consummation of the Offer and the Solicitation and payment for the Notes tendered and Consents delivered is subject to the satisfaction of certain conditions set forth in the Offer to Purchase, including obtaining the Requisite Consents to the Proposed Amendments under the Indenture governing the Notes. Except for the Financing Condition, these conditions have not yet been satisfied in full, and the Company has the right, in its sole discretion, to amend or terminate the Offer and/or the Solicitation at any time, and settlement for all Notes tendered and consents delivered at or prior to the Extended Early Tender Date and Consent Deadline is contingent on the satisfaction or waiver of these conditions. 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Cision Canada
26-05-2025
- Cision Canada
FRONTERA ENERGY CORPORATION ANNOUNCES EARLY TENDER DATE RESULTS AND EXTENSION OF THE EARLY TENDER DATE AND CONSENT DEADLINE OF THE TENDER OFFER AND CONSENT SOLICITATION FOR ITS OUTSTANDING 7.875% SENIOR NOTES DUE 2028
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Settlement for the consents validly delivered (and not validly revoked) without tendering Notes at or prior to the Extended Early Tender and Consent Deadline, is expected to occur on June 11, 2025 (the " Solicitation Settlement Date"), which is the same date as the Final Settlement Date. Unless otherwise amended as expressly described above in this press release, the terms and conditions of the Offer to Purchase remain the same. The terms and conditions of the Offer and the Solicitation are described in the Offer to Purchase, as supplemented and amended by this announcement. The Company's obligations to accept any Notes validly tendered and not validly withdrawn and to pay the Total Consideration for them, and the conditions to such obligations are set forth in the Offer to Purchase, as supplemented and amended by this announcement. 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About Frontera: Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including strategic investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets which consists of interests in 22 exploration and production blocks in Colombia, Ecuador and Guyana, and in pipeline and port facilities in Colombia. Frontera's common shares are listed for trading in the Toronto Stock Exchange under the ticker symbol "FEC." The Company is committed to conducting business safely and in a socially and environmentally responsible manner. Cautionary Note Concerning Forward-Looking Statements This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the timing and terms of the Offer and Solicitation) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. 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Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
