Monday, November 29, 2004

Tellabs Closes AFC Merger, Announces Executive Team

Tellabs closed its $1.5 billion merger with AFC, creating a leading global supplier of access, transport and data solutions for telecom service providers worldwide.

"The new Tellabs is a strategic telecom equipment supplier that will lead the industry's shift to reliable broadband services around the world," said Krish Prabhu, president and CEO of Tellabs. "

The company also announced three new members of its executive team:

  • Carl DeWilde joins Tellabs as executive vice president-access products, with global responsibility for developing access products in the AFC portfolio. Most recently, DeWilde served as CTO and COO at Xtera, an optical networking company. Previously, DeWilde served in senior leadership roles at Fujitsu Network Communications, Alcatel Network Systems and Siemens Communications Systems.

  • Jeff Rosen, formerly vice president of operations and customer service at AFC, joins Tellabs as executive vice president-operations, with global responsibility for Tellabs' supply chain and global information systems. Rosen joined AFC in 2000, bringing more than 15 years of manufacturing and supply chain experience from companies such as Solectron; Booz, Allen & Hamilton; Raytheon and Teradyne.

  • Victoria Perrault, formerly vice president of administrative services at AFC, joins Tellabs as executive vice president-human resources, with global responsibility for Tellabs employees and facilities. Perrault joined AFC in 1996 as director, human resources, and was promoted in 1999 to vice president, administrative services. Previously, she served as director of human resources for the advanced products division at Aegon USA.
  • In September, Tellabs and AFC amended the terms of their pending merger, which was first announced on May 20, 2004. Under the terms of the amended agreement, which was approved by both companies' boards of directors, AFC stockholders will receive 0.504 shares of Tellabs common stock and $12.00 in cash for each AFC share.

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