Zhone Technologies completed its merger with Tellium. Immediately prior to the consummation of the merger, Tellium implemented a one-for-four reverse stock split. The combined company's shares will commence trading on the NASDAQ Stock Market under the symbol "ZHNE" effective 14-Nov-03.
The combined company is named Zhone Technologies and will be headquartered in Oakland, California.
http://www.zhone.com/
- In July 2003, Zhone Technologies, a provider of next-gen local loop access solutions, first announced its plans to merge with Tellium, a developer of core optical switching systems. At the time, Mory Ejabat, current chairman and CEO of Zhone Technologies, said that combining the two businesses would create a comprehensive solution for local, metro and long distance service providers. Tellium would also contribute its $149.8 million in cash to the combined company, which would retain the name Zhone Technologies. Ejabat would continue as chairman and CEO of the combined operation. In the long term, the combined company plans to offer access and transport solutions that bridge existing copper-based loops and fiber optics. Zhone has acquired eight companies over the past four years.
