Paradyne Networks will acquire Net to Net Technologies’ complete product line and intellectual capital portfolio for up to $3 million in cash and 604,839 shares of Paradyne stock, subject to certain purchase price adjustments. In addition, Paradyne will issue to Net to Net a warrant to purchase up to 1,008,065 shares of Paradyne stock at an exercise price of $5.95 per share, which will expire on December 31, 2005. Following closure of the deal, Paradyne plans to offer positions to many of Net to Net’s engineering, sales and support personnel in Portsmouth, New Hampshire.
Net to Net is a privately-held supplier of DSL access equipment based in Portsmouth, New Hampshire. Among its offerings, the company supplies a bonded SHDSL platform and a line of “Network Extenders.”
Paradyne said the acquisition supports its strategy to provide the most complete range of broadband access products to support service providers worldwide that are migrating voice and data to packet-based networks. http://www.paradyne.comhttp://www.nettonet.com
