eci telecom group stock

and Santander Bank, N.A., joint lead arrangers and bookrunners, provided the debt financing for the transaction. Important Additional Information Will be Filed with the SEC. Enable Ribbon's entry into the rapidly growing 5G networking market with ECI's market-ready solutions. "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. WESTFORD, MASS. ECI Telecom operates as a global manufacturer of … Ribbon offers innovative IP and optical networking solutions and cloud-to-edge communications solutions. Ribbon will pay $324 … Revenue for first quarter of 2020 was $158 million compared with $119 million in first quarter of 2019, an increase of 33%. Barclays acted as a financial advisor to ECI and Davis Polk & Wardwell LLP and FBC & Co. served as ECI's legal advisors. ECI's Elastic Services Platform leverages its programmable packet and optical networking solutions, along with its service-driven software suite and virtualization capabilities, to provide a robust yet flexible solution for any application. Cyan 8% ECI Telecom 4% . Replay information:A telephone playback of the call will be available following the conference call until November 28, 2019 and can be accessed by calling 877-660-6853 or 201-612-7415 for international callers. Ribbon's Kandy Cloud real-time communications software platform delivers advanced and embedded CPaaS and UCaaS capabilities enabling service providers to rapidly create and deploy high-value communications services. FierceTelecom covers the latest news on telecom companies, backhaul, ethernet, IPTV, and other trends driving the telecom industry into the future. For more information, visit ECI at ecitele.com. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Ribbon and ECI as well as assumptions made by, and information currently available to, such management. ", McClelland added, "ECI's solutions are specifically designed to address the rapidly growing 5G ecosystem. ", "We are excited to join forces with Ribbon, bringing together Ribbon's and ECI's rich portfolios of communications solutions. Copy and paste multiple symbols separated by spaces. Furthermore, the combined company will be well positioned to serve the high-growth 5G market. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the parties' control, such as statements about the consummation of the proposed transaction. Accordingly, there is no assurance that the expectations of Ribbon or ECI will be realized. Ribbon and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Ribbon in respect of the proposed transactions contemplated by the proxy statement. ECI's Total Addressable Market ("TAM") is expected to reach. While Ribbon may elect to update forward-looking statements at some point, Ribbon specifically disclaims any obligation to do so. Ribbon Communications Inc. (Nasdaq: RBBN) delivers market-leading software solutions that secure and power many of the world's leading service provider and enterprise communications environments. Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the shareholders of Ribbon, respectively, in connection with the proposed transactions, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement when it is filed with the SEC. "We aim to create a powerhouse company that offers world-class products for an enhanced customer experience, benefiting our combined global customer base. Ribbon expects to provide updated financial guidance, which will include the ECI acquisition, during its first quarter 2020 earnings call. ", "This transformational transaction accelerates our strategy to position the company into higher growth markets," said Daryl Raiford, Chief Financial Officer of Ribbon. Under the terms of the merger agreement, Ribbon will acquire all outstanding equity of ECI. The foregoing list of factors is not exhaustive. ECI was acquired in 2007, when it was a publicly traded firm, for some $1.2 billion by the Swarth Group and other investors, who delisted the shares from Nasdaq. Under the terms of the merger agreement, Ribbon will acquire all outstanding equity of ECI. ECI stockholders also stand to gain approximately $31 million from … Therefore, you should not place undue reliance on such statements. Ribbon has long-standing, deep customer relationships in North America and Japan, which will provide immediate access to ECI solutions into these substantial markets. Ribbon Communications' merger with ECI Telecom last year appears to have been a success. WESTFORD, Mass., March 3, 2020 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global software leader in secure and intelligent cloud communications, has completed its previously announced acquisition of ECI Telecom Group Ltd. ("ECI"), a global provider of end-to-end packet-optical transport and SDN/NFV solutions for service providers, enterprises, and data center operators. Provide the combined company's customers and partners with a broader solutions portfolio from a larger scale and trusted vendor. Type a symbol or company name. TAP Advisors and Citizens Capital Markets acted as financial advisors to Ribbon and Latham & Watkins LLP and GKH Law Offices served as Ribbon's legal advisors. has provided fully committed debt financing for the transaction. Conference Call DetailsRibbon will offer a live, listen-only webcast of the conference call to discuss its planned acquisition of ECI Telecom Group Ltd on November 14, 2019, via the investor section of its website at http://investors.ribboncommunications.com, where a replay will also be available shortly following the conference call. All of our forward-looking statements involve risks and uncertainties (some of which are significant or beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. http://www.prnewswire.com/news-releases/ribbon-communications-inc-completes-merger-with-eci-telecom-group-ltd-301015822.html. Expand Ribbon's relationships with mobile service providers, enabling the company to more broadly position its big data analytics solutions with ECI's packet networking and optical transport solutions. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "seek," "see," "plan," "could," "would," "should," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project," "target" or similar words, phrases or expressions, and include statements regarding the anticipated benefits of the merger with ECI, expected funding for the merger, anticipated timing of closing of the merger, expected proceeds from the sale of ECI's real estate assets, and Ribbon's and ECI's total addressable markets. Investor RelationsMonica Gould+1 (212) 871-3927IR@rbbn.com, Lindsay Savarese+1 (212) 331-8417IR@rbbn.com, North America PressDennis Watson+1 (214) 695-2224dwatson@rbbn.com, International PressCatherine Berthier+1 (646) 741-1974cberthier@rbbn.com, Industry Analyst RelationsMichael Cooper+1 (708) 383-3387mcooper@rbbn.com, View original content to download multimedia:http://www.prnewswire.com/news-releases/ribbon-communications-inc-completes-merger-with-eci-telecom-group-ltd-301015822.html. 3  ECI's Adjusted EBITDA is obtained from ECI's financial statements as conformed to US GAAP and Ribbon's accounting practices. Citizens Bank, N.A. Ribbon's corporate headquarters is expected to remain in Westford, Massachusetts. Cash consideration is expected to be financed through cash on hand and committed debt financing consisting of a new $400 million term loan facility and new $100 million revolving credit facility, which is projected to be undrawn at close. Serves over 300 global customers with over 100 new customer wins in the last three years. Ribbon Communications (RBBN) announced it has agreed to acquire ECI Telecom Group for $454 million in cash and stock. To learn more, visit ribboncommunications.com. Built on world-class technology and intellectual property, Ribbon's cloud-native solutions deliver intelligent and secure real-time communications solutions for the cloud, network and enterprise edge. You have many options for purchasing Ribbon Communications solutions. Approximately $30 million of the year-over-year revenue increase was attributable to the acquisition of ECI Telecom Group, Ltd. (ECI… ECI is a global provider of ELASTIC network solutions to service providers, critical industries and data center operators.

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