Showing posts with label Ribbon. Show all posts
Showing posts with label Ribbon. Show all posts

Monday, September 14, 2020

Ribbon hires Sam Bucci to head its Packet Optical Networks business

Ribbon Communications announced the appointment of Sam Bucci as Executive Vice President & General Manager, Packet Optical Networks, a newly created position following Ribbon's acquisition of ECI Telecom earlier this year. 

Bucci most recently lead the optical business unit for Nokia, managing a multi-billion-dollar business unit and leading a global team. Prior to his tenure at Nokia and Alcatel-Lucent, Bucci spent several years at Nortel Networks' optical business unit in various senior product management, sales and business development roles. He received a Bachelor of Engineering degree with distinction from McGill University in Canada.

"I am very excited to welcome Sam to the Ribbon leadership team," said Bruce McClelland, Ribbon Communications Chief Executive Officer. "He is a perfect fit to help us execute on both our short-term and long-term strategy of establishing Ribbon as a force in the global data communications industry. Sam is a thoughtful technology and business leader who has successfully built and executed multi-year strategies focused on taking advantage of technical and commercial discontinuities to deliver differentiated offerings and gain market share in a complex, competitive operating environment. His outstanding reputation and impressive track record will be a significant addition to the Ribbon leadership team."

"I am thrilled to join Ribbon during this exciting period for the packet optical market," said Bucci. "Ribbon's recent acquisition of ECI Telecom, combined with the renewed energy and great leadership Bruce is providing, creates a clear path for Ribbon to be a disruptive force in the market. I am excited to be a part of these efforts and look forward to supporting the strategy."



Wednesday, September 9, 2020

Ribbon announces 5G slicing based on Xilinx

Ribbon Communications is developing a 5G hybrid slicing solution in collaboration with Xilinx. Further details are expected later this month.

"Today's announcement highlights our leadership and innovation in packet optical networking," said Sigal Barda, Ribbon's VP of Product and Head of 5G Portfolio. "Our hybrid slicing capabilities enable operators to simultaneously deliver tomorrow's resource-intensive and low latency 5G services while gaining operational efficiencies from their networks, thereby maximizing the value of their infrastructure investment."

"We value our relationship with Ribbon and the advances we've made in the packet optical networking space together," said Safy Fishov, Vice President of Sales for North America and Europe, Wired and Wireless Group at Xilinx. "Thanks to our leading Virtex UltraScale+ technology, design services, and FLEX-E solution, Ribbon is helping to move the industry forward, offering an elegant hybrid slicing solution to support new 5G use and business cases including network sharing, private networks slices, and new mobile-based services online for gaming and eHealth."\

Tuesday, September 1, 2020

ECI/Ribbon selected for Italy's LightNet Research Network

Ribbon Communications has been selected to modernize and extend the University of Trieste’s LightNet Research and Education Network (REN) in partnership with TIM.

Under the three-year, fully turnkey open project, Ribbon will deploy its portfolio of  E-Line and E-LAN protected services solution, part of its Neptune and Apollo product lines, to deliver enhanced connectivity to the university’s students, faculty and research centers. The company was selected for its outstanding portfolio, proven track record of success, and previous experience in successfully collaborating with TIM.

“Learning environments and research centers have become increasingly digitized or digitally-led, making access to reliable, resilient, and competitive connectivity services essential,” said Giorgio Giorgetti, LightNet Technical Director at The University of Trieste. “Our high capacity connections with the national REN GARR, our cross-border links with Slovenia's REN ARNES, and the use of supercomputers for AI simulation and big data analytics have increased our users’ need for a high capacity, scalable and adaptable network that cost-effectively meets shifting requirements. We’re pleased to be working with Ribbon and TIM for this upgrade.”
 already underway, will replace the existing legacy network infrastructure deployed in the city of Trieste and the regional extension of the network connecting universities and research centers. The solution leverages the Apollo ROADM (Reconfigurable Optical Add-Drop Multiplexer) dynamic layer for the underlying backbone, and Neptune to deliver E-Line and E-LAN services. Ribbon’s Muse network lifecycle management system will provide the end-to-end management.

“We’re delighted to have been chosen to upgrade the LightNet research and education network with next generation network infrastructure technology. This is our eighth consecutive win in this unique sector with similar projects in the USA and across Europe,” said Fernando Valdivielso, Ribbon’s EVP of EMEA and APAC Sales. “Our high performance, future-proof networking solutions portfolio has demonstrated itself to be particularly well suited to the needs of the REN community worldwide time and again.”

Monday, August 3, 2020

Airtel picks Ribbon's Neptune for Packet Transport

Bharti Airtel will deploy Ribbon Communications' 5G-Native Neptune platform to enhance its mobile backhaul transport capabilities. Financial terms were not disclosed.

Ribbon's 5G-native Neptune solution will be deployed throughout Bharti Airtel's India network, providing high capacity, low latency and real time programmability. The Neptune platform enables a powerful, efficient multi-layer next-generation network solution for a seamless evolution to future 5G services. The platform will be controlled, managed and automated by Ribbon's cloud-native Muse system, which provides Airtel with an integrated machine-to-machine ecosystem for end-to-end automated service fulfillment and assurance as well as automated migration from the existing network to the modernized one. 

"Ribbon has been a trusted partner since 2004, and their proven track record gives us confidence that they will successfully manage this upgrade. This compact, robust IP/MPLS-Access solution from Ribbon will both serve our current needs and make the Airtel network 5G ready," said Randeep Sekhon, CTO, Bharti Airtel.

"5G will unleash a significant array of new applications and services that users around the world will benefit from," said Bruce McClelland, CEO of Ribbon Communications. "We are honored to have been selected by Bharti Airtel for this critical upgrade and look forward to further expanding our relationship while supporting their pioneering vision for the future."  

Thursday, May 7, 2020

Ribbon posts Q1 sales of $158 million

Ribbon Communications reported Q1 2020 revenue of $158 million compared with $119 million in first quarter of 2019, an increase of 33%. Approximately $30 million of the year-over-year revenue increase was attributable to the acquisition of ECI Telecom, which closed on March 3, 2020. There was a GAAP net loss of $33 million, and a non-GAAP loss of $1 million.

"We are pleased with our first quarter sales results.  In the face of very difficult global conditions for our customers and employees arising from the COVID-19 pandemic, we achieved organic revenue growth of eight percent compared with the first quarter of last year, driven by strong demand for our communications software as our customers responded to increased traffic on their networks," said Bruce McClelland, President and Chief Executive Officer of Ribbon Communications.  "We saw an increase in session software deployments to facilitate remote work and Ribbon's multi-year investments in fully virtualized software and cloud products allowed us to rapidly deploy solutions for our Service Provider and Enterprise customers."

Mr. McClelland added, "During March we successfully completed the merger with ECI.  Although the ongoing pandemic has impacted demand in certain regions and created supply chain challenges for our Packet Optical Network products, we are excited about the opportunities this merger provides, with an impressive breadth of products to serve our combined global customer base."

ECI's Darryl Edwards steps down following Ribbon acquisition

Darryl Edwards, President and CEO of ECI Telecom, has stepped down as planned following the recent acquisition of the company by Ribbon.

Edwards joined ECI in June 2012, with the goal of re-establishing ECI's reputation for innovation and breaking boundaries in the telecommunications industry. Under his leadership, ECI has made significant investments in research and development and refreshed its product portfolio with new packet and optical product lines, making the transition to SDN and NFV.

"We're immensely grateful for the great work that Darryl has done in cementing ECI's place as an innovation leader in the packet and optical networking space," said Bruce McClelland, CEO and President of Ribbon.  "We are now very focused on executing on our strategy to significantly scale the ECI business by leveraging the strong foundation that Ribbon has with major Service Providers and Enterprise customers around the world, particularly as we enter the 5G networking era."

"It has been a great pleasure to lead ECI for the past eight years. During this time, the industry has changed dramatically, and so did ECI," added Mr. Edwards. "When I became CEO of ECI, we had to re-assert ECI's innovation and put it back at the heart of the company. We've since become a pioneer in the industry, supporting a large number of customers, helping them realize their ambitions with our unique elastic network philosophy and approach. The merger with Ribbon is a natural and positive next step for ECI as it looks to continue to expand its global presence."

Ribbon completes merger with ECI Telecom

Ribbon Communications completed its previously announced acquisition of ECI Telecom Group, which supplies packet-optical transport and SDN/NFV solutions for service providers, enterprises, and data center operators.

The newly combined company will offer an extensive portfolio of advanced voice, security, data and optical networking solutions. In addition to extending the company’s solutions portfolio into adjacent markets, the merger advances Ribbon’s strategy of expanding into the service provider 5G data domain with bundled network analytics, intelligence and security offerings. The newly combined company allows Ribbon to enhance and broaden its existing customer offerings with ECI’s industry-leading packet optical transport solutions.

"We are thrilled to welcome ECI to the Ribbon family,” said Bruce McClelland, President and Chief Executive Officer of Ribbon. “Our expanded product offering combines ECI’s leadership in packet optical networking with our existing proven portfolio of software-based, real-time communications security, analytics and digital transformation solutions. Our new organization will leverage the strength and presence of our global sales force to create a very formidable market leader in the communications industry.”

Tuesday, March 3, 2020

Ribbon completes merger with ECI Telecom

Ribbon Communications completed its previously announced acquisition of ECI Telecom Group, which supplies packet-optical transport and SDN/NFV solutions for service providers, enterprises, and data center operators.

The newly combined company will offer an extensive portfolio of advanced voice, security, data and optical networking solutions. In addition to extending the company’s solutions portfolio into adjacent markets, the merger advances Ribbon’s strategy of expanding into the service provider 5G data domain with bundled network analytics, intelligence and security offerings. The newly combined company allows Ribbon to enhance and broaden its existing customer offerings with ECI’s industry-leading packet optical transport solutions.

"We are thrilled to welcome ECI to the Ribbon family,” said Bruce McClelland, President and Chief Executive Officer of Ribbon. “Our expanded product offering combines ECI’s leadership in packet optical networking with our existing proven portfolio of software-based, real-time communications security, analytics and digital transformation solutions. Our new organization will leverage the strength and presence of our global sales force to create a very formidable market leader in the communications industry.”

McClelland added, “ECI’s solutions are specifically designed to address the rapidly growing 5G ecosystem. We look forward to working closely with all of our employees to leverage Ribbon’s strong foundation to build sustained, long-term growth.”

“This transformational transaction accelerates our strategy to position the company into higher growth markets,” said Daryl Raiford, Chief Financial Officer of Ribbon. “The combination of Ribbon and ECI offers our customers world-class products that we believe will drive Ribbon’s growth, profitability and cash flow. We are immediately focused on our integration efforts to unlock revenue expansion and drive shareholder value.”

Wednesday, February 19, 2020

Ribbon names Bruce McClelland as CEO (formerly ARRIS)

Ribbon Communications announced the appointment of Bruce McClelland as its President, Chief Executive Officer and a director. McClelland previously served as CEO of ARRIS International plc, where he most recently led the sale of ARRIS to CommScope for $7.4 billion in April 2019.  While at ARRIS, Mr. McClelland managed the successful acquisition and integration of the Ruckus Wireless and Brocade ICX Campus switching businesses from Broadcom Inc., a major step in diversifying the ARRIS business beyond the service provider market into the broader enterprise market, while strengthening the company’s wireless technology capabilities. 

Mr. McClelland said, “I am honored to lead the Ribbon team during this exciting time in the Company’s history with the transformational merger with ECI on the near-term horizon. I look forward to bringing my knowledge and expertise to the combined company, working closely with the Ribbon Board and executive management team to create a premier workplace and winning culture for our employees while driving long-term value for our customers and stockholders.”

Ribbon also announced the appointment of Stewart Ewing and Krish Prabhu to its Board of Directors. Ewing most recently served as Executive Vice President and Chief Financial Officer of CenturyLink, Inc.  He joined CenturyLink as its Vice President of Finance in 1983 and assumed the role of Chief Financial Officer in 1989.   During his 28 years as CFO, he played a significant role in CenturyLink’s acquisition strategy, negotiating all stages of purchase agreements, legal and regulatory matters and integrating the acquired companies into CenturyLink’s corporate structure and philosophy.

Prabhu most recently was Chief Technology Officer and President of AT&T Labs.  During his tenure, he was responsible for the company's global technology direction, including network innovation, product development and research, intellectual property organization and global supply chain organization.  Prior to this, Mr. Prabhu served as President and Chief Executive Officer of Tellabs. Earlier in his career, he held various leadership positions at Alcatel.

Ribbon to acquire ECI , expanding from voice to optical, SDN, NFV

Ribbon Communications agreed to acquire ECI Telecom Group for 32.5 million shares of Ribbon common stock and $324 million of cash.   ECI stockholders will also receive approximately $31 million from ECI’s sale of real estate assets. This

ECI is a global provider of end-to-end packet-optical transport and SDN/NFV solutions for service providers, enterprises, and data center operators. The privately held company was founded in 1961, currently has approximately 1,700 employees, and is headquartered in Petah Tikva, Israel. ECI serves over 300 global customers with over 100 new customer wins in the last three years. ECI’s total revenue was $376 million and Adjusted EBITDA was $23 million for the twelve months ended September 30, 20193.

The companies said their merger will create a powerful, leading-edge solutions provider with anticipated combined annual revenue of over $900 million, serving customers in more than 140 countries, and 4,000 employees worldwide.  Ribbon expects the combination to position the company for growth by expanding its product portfolio beyond solutions primarily supporting voice applications to include data applications and optical networking.

Ribbon’s corporate headquarters is expected to remain in Westford, Massachusetts.

Thursday, November 14, 2019

Ribbon to acquire ECI , expanding from voice to optical, SDN, NFV

Ribbon Communications agreed to acquire ECI Telecom Group for 32.5 million shares of Ribbon common stock and $324 million of cash.   ECI stockholders will also receive approximately $31 million from ECI’s sale of real estate assets. This

ECI is a global provider of end-to-end packet-optical transport and SDN/NFV solutions for service providers, enterprises, and data center operators. The privately held company was founded in 1961, currently has approximately 1,700 employees, and is headquartered in Petah Tikva, Israel. ECI serves over 300 global customers with over 100 new customer wins in the last three years. ECI’s total revenue was $376 million and Adjusted EBITDA was $23 million for the twelve months ended September 30, 20193.

The companies said their merger will create a powerful, leading-edge solutions provider with anticipated combined annual revenue of over $900 million, serving customers in more than 140 countries, and 4,000 employees worldwide.  Ribbon expects the combination to position the company for growth by expanding its product portfolio beyond solutions primarily supporting voice applications to include data applications and optical networking.

Ribbon’s corporate headquarters is expected to remain in Westford, Massachusetts.

“The ECI acquisition will extend Ribbon’s reach into the networking market and propel us into the global 5G market,” said Daryl Raiford, Chief Financial Officer of Ribbon.  “ECI brings world class networking technology and a proven track record of success in winning top customers in direct competition with major industry players.  Ribbon has long-standing, deep customer relationships in North America and Japan, which will provide immediate access to ECI solutions into these substantial markets.  We believe this combination will create new revenue opportunities to drive growth, provide our customers and partners with a broader solutions portfolio, and generate significant long-term value for our stockholders.”

We are excited to join forces with Ribbon, bringing together Ribbon’s and ECI’s rich portfolios of communications solutions.  Both companies enjoy a distinguished operating history and are trusted suppliers to the world’s leading telecommunication service providers and enterprises,” said Darryl Edwards, President and Chief Executive Officer of ECI.  “We aim to create a powerhouse company that offers world-class products for an enhanced customer experience, benefiting our combined global customer base.”


ECI debuts 5G cell site router

ECI introduced its "1022" cell site router, the first of the company’s end-to-end portfolio tailored for 5G.

The 1022 cell site router combines high capacity in a small form factor. It offers MPLS, network slicing, class C and D synch capabilities and open NetConf/Yang interfaces.

ECI said the 1022 represents the next evolution of its Neptune product line, inheriting its multiservice, Elastic MPLS capabilities that allow customers to support current, future and legacy services on a single platform. Its front access, extended temperature range make it equally at home at a cell site or operating as an access device for a substation.

ECI enhances its Apollo optical transport with 8x24CDCF ROADM

ECI has enhanced its Apollo optical transport portfolio with the addition of a high performance, contentionless 8x24CDCF ROADM based on wavelength switching technologies.

ECI said its programmable wavelength switching far surpasses the capabilities of contentionless ROADMs available today, which are based on multicast switches (MCS). The 8x24CDCF ROADM enables add/drop port scaling to support capacity growth while eliminating the need for additional amplification to overcome optical losses in multicast switches. As a result, the 8x24CDCF ROADM offers more density, reliability and power efficiency at a lower cost.

Key features of the 8x24CDCF ROADM include:

  • Reduced cost: Next generation CDC ROADM networks see cost savings due to improved scalability of add/drop ports and removal of superfluous EDFA arrays.
  • Improved performance: Delivers scalability and reliable performance regardless of port count and lessens strict filtering requirements on transmitters and receivers. It also eliminates the performance degradation from out-of-band noise accumulation.
  • Increased Flexibility: Works in conjunction with ECI’s Apollo product line, including the recently debuted TM1200 programmable 1.2T dual channel blade, providing customers with a wide set of ‘mix-n-match’ modules from which they can choose to design the optical network of their choice.

ECI intros 1.2T Dual Channel Blade for its Apollo DWDM transport

ECI introduced its TM1200, a 1.2T blade (dual 600G channel) for its Apollo DWDM transport systems, enabling programmable, adaptive optical networking.

ECI said its new TM1200 blade delivers unmatched spectral efficiency and elasticity through software controllable continuous modulation. Whereas traditional line-side modulation was only programmable in large increments – such as 100G, 200G or 400G – often relying on different line cards, the new TM1200 delivers software-controlled continuous modulation in 50 Gbps increments up to 600 Gbps line rate, rather than supporting specific modulation schemes. This maximizes capacity in a granular manner to best match client needs and variable channel conditions.

Additional benefits:

  • Optimal return on fiber investment: By operating at the edge of the Shannon limit, the TM1200 squeezes the maximum capacity from each channel on a fiber, delaying the need to add new fiber and optical networking infrastructure.
  • Enables a highly adaptive and flexible optical layer: Working in conjunction with ECI's colorless, directionless, contentionless, flexible spectrum ROADMs, and client services aware SDN control, the TM1200 can continuously optimize client traffic to fiber capacity.
  • Dynamic restoration: Excess capacity can be allocated dynamically to fully or partially restore client services that are disrupted by fiber or equipment failures elsewhere in the network.
  • Power efficiency: At a 600 Gbps line rate, the ECI TM1200 has a 10-fold improvement in power efficiency compared to other solutions, consuming less than 0.18W per Gbps, fully populated.

Ribbon announces sudden departure of CEO

Ribbon Communications announced the departure of its President and Chief Executive Officer, Franklin (Fritz) W. Hobbs, effective immediately. No reason was given.

Steven Bruny, Executive Vice President, Global Sales and Services, and Kevin Riley, Executive Vice President and Chief Technology Officer, have been appointed Interim Co-Presidents and Chief Executive Officers. 

The company said it has engaged a leading global executive search firm to recruit a new CEO.

Monday, March 18, 2019

Ribbon's Session Border Controller available in Microsoft Azure

Ribbon Communications' Session Border Controller (SBC) Software edition Lite (SWe Lite) is now being offered in the Microsoft Azure Marketplace.

The SWe Lite is a virtualized enterprise SBC that delivers Unified Communications (UC), collaboration and security capabilities. In addition, Ribbon's SBC SWe Lite delivers high-performance and capacity in Microsoft Hyper-V and is one of a select few solutions that is fully certified to deliver secure voice services for Microsoft Teams Direct Routing and Skype for Business.

"Making our SBC SWe Lite available in the Microsoft Azure Marketplace not only is another major step forward in our cloud investment strategy, but more importantly it helps our customers evolve their communications capabilities to the cloud quickly and conveniently," said Kevin Riley, Chief Technology Officer for Ribbon. "

Monday, February 4, 2019

Ribbon to acquire assets of Anova Data

Ribbon Communications, agreed to purchase the business and technology assets of Anova Data, a provider of advanced analytics solutions. Under the deal, the equity owners of Anova Data will receive at closing an aggregate of 3.3 million shares of Ribbon common stock in exchange for substantially all of the assets and liabilities of Anova Data. Ribbon does not expect that the acquisition will materially affect its financial results in 2019.

Anova Data offers a cloud-native, streaming analytics platform for network and subscriber optimization and monetization.

"These assets perfectly complement our existing security and analytics platform, Ribbon Protect," said Fritz Hobbs, President and Chief Executive Officer of Ribbon Communications. "Anova Data's cloud-native solutions, which already boast several global Tier 1 deployments, are expected to help us further expand our offerings to mobile service providers with a comprehensive solution set that combines subscriber-level analytics with real-time network optimization and intelligence."


Monday, June 25, 2018

Ribbon to acquire Edgewater Networks

Ribbon Communications agreed to acquire Edgewater Networks, a privately-held company based in San Jose, California that specializs in Network Edge Orchestration for the small and medium enterprise (SME) and Unified Communications (UC) market. 

Under the deal, Ribbon will pay Edgewater Networks shareholders an aggregate of $110 million, subject to customary post-closing net working capital and debt adjustments, comprised of: $50 million of cash, $30 million of deferred cash payments, and $30 million of Ribbon common stock to be issued at the time of closing, not to exceed 5.2 million shares.

Edgewater Networks, which was founded in 2002 and currently has about 80 employees, says it has more than 635,000 actively deployed edge devices and more than 20 million connected endpoints.

It product portfolio includes a hybrid network edge orchestration solution; a family of EdgeMarc IP-to-IP Session Border Controllers, EdgeMarc Multi-Service Gateways, and EdgeProtect Unified Communication platforms; an EdgeView Service Control Center (SCC) that provides visibility to all voice and data traffic and real-time alerts/alarms for remote troubleshooting and management; and an Edgewater SD-WAN solution.

Edgewater's revenue was $64 million in 2017 and $50 million in 2016, primarily derived from sales within the U.S.  Over the past four years, Edgewater Networks has recorded annual double-digit sequential revenue growth. Adjusted EBITDA was $4 million in 2017, a 98% increase compared to $2 million in 2016.

Ribbon said the acquisition will make it the market share leader for enterprise Session Border Controllers (SBCs) and Network Edge Orchestration.  The combined portfolio is expected to further strengthen the new Ribbon Protect UC security offering with voice and data intelligence from the enterprise edge and customer premises.

“This transaction demonstrates how we are delivering on our strategic objectives and extending our market reach,” said Fritz Hobbs, President and Chief Executive Officer of Ribbon Communications.  “The combination of Ribbon Communications and Edgewater Networks creates a best-in-breed, complete platform that extends our leadership position in the SBC, cloud UC, security and analytics markets.”

“The customer footprint of our combined organization is unmatched in the marketplace,” said David Norman, Chief Executive Officer of Edgewater Networks.  “The combination of Ribbon and Edgewater Networks will allow us to better serve customers globally and accelerate our pace of innovation in the UC and SD-WAN markets.”

Wednesday, November 29, 2017

Ribbon Communications takes off -- Sonus + GenBand

Sonus Networks has officially changed its name to Ribbon Communications following its merger with GENBAND.

The ticker symbol of the company’s common stock on the Nasdaq Global Select Market is now “RBBN”.

“Our new name is not just about connecting point “a” to point “b”. It reflects our strong desire to continue moving the real-time communications industry forward by dramatically improving the communications experience and encompassing the ability to ensure our contact points are elegantly and seamlessly simple to create, manage and monitor. Ribbon Communications serves as the connection across all of our worlds,” stated Ray Dolan, the company's CEO.

Mr. Dolan added, "With humans more connected in so many different ways than ever before, the real-time communications we rely on must become a more comprehensive, engaging, and all-encompassing experience. Additionally, the new Ribbon Communications name reflects the unparalleled suite of real-time communications software solutions that the combined company brings to the market. Ribbon Communications is ready to deliver the flexibility, security and stability that today's digital life requires, enabling better business outcomes."

Sonus and GENBAND to merge to create company with $680m annual revenue


Sonus Networks, a provider of solutions that enable secure and intelligent cloud communications, and GENBAND, a supplier of carrier and enterprise network transformation and real-time communications solutions, announced a definitive agreement under which the two companies will combine to create a major next-generation communications networking company.

Under the terms of the agreement, Sonus and GENBAND shareholders will each own approximately 50% of the combined entity. Based on the closing price of Sonus' common stock on May 22nd of $7.79 and estimated net cash at the time of closing, the transaction values the combined company at an enterprise value of approximately $745 million.

On closing, Sonus and GENBAND will combine into a newly formed holding company. Each Sonus shareholder will receive one share of common stock in the combined company for each existing Sonus share held; the new company will issue approximately 50 million shares to GENBAND's equity owners, plus $22.5 million in the form of an unsecured note. The combined company will have an estimated net cash position of $40 to $45 million.

The transaction will combine Sonus' established software-based real-time communication virtualisation, cloud-based SIP and 4G/VoLTE and security solutions with GENBAND's network modernisation, unified communications and mobility and embedded communications solutions. Together, Sonus and GENBAND will be better positioned to enable the transformation to IP and cloud-based networks for service providers and enterprise customers.

The combined company will have a global sales footprint in 27 countries, a customer base that includes may Tier 1 carriers, with 67% of combined 2016 revenue for the two companies generated in the U.S. and Canada, 18% in EMEA, 11% in APAC and 4% in CALA.

The two companies' combined revenue and EBITDA in 2016 would have been approximately $680 million and $50 million, respectively, excluding synergies. The transaction is expected to be significantly accretive to Sonus' earnings per share in 2018. The combined company expects to realise annual cost synergies of $40 to $50 million by the end of 2018.

The CEO of the combined company will be Raymond Dolan, current president and CEO of Sonus; David Walsh, current CEO and chairman of GENBAND, will oversee the Kandy business, GENBAND's cloud communications platform as a service (CPaaS). Daryl Raiford, current CFO of GENBAND, will serve as CFO of the combined company. The board of directors of the combined company will comprise five representatives designated by GENBAND and four representatives designated by Sonus.