Thursday, January 20, 2005

Copper Mountain Lays Off Most Employees

Copper Mountain Networks, a supplier of broadband access equipment, initiated actions to lay off most of its remaining employees by March 22, 2005, retaining a limited team of employees to provide customer support and handle matters related to the ongoing exploration of strategic alternatives. The company is still pursuing the potential sale of its intellectual property.

Copper Mountain's Management and the Board of Directors concluded that maintaining the company's existing employee headcount was "not necessary for any of the strategic alternatives currently under consideration, and the ongoing employee-related expenditures could potentially decrease total stockholder value."

  • Copper Mountain's VantEdge provides high-density interfaces for aggregation from T1/E1 for remote DSLAMs and access points, to OC-12/STM-4 and Gigabit Ethernet for video delivery to DSLAMs and PON OLT (Passive Optical Network Optical Line Termination) devices.

  • In August 2004, Copper Mountain retained Raymond James & Associates to explore strategic options, including a possible sale of the company. At the time, Copper Mountain said the recent cancellation of a large carrier broadband upgrade project and potential delays in decisions from several other large carriers made it necessary to explore these options.


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