eci telecom group stock

Barclays acted as a financial advisor to ECI and Davis Polk & Wardwell LLP and FBC & Co served as ECI's legal advisors. 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. 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. The new facilities will retire Ribbon's existing credit facility. 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. Ribbon will issue 32.5 million shares of its common stock to ECI stockholders and provide $324 … WESTFORD, MASS. Ribbon anticipates the acquisition will close in the first quarter of 2020. Ribbon will issue 32.5 million shares of its common stock to ECI stockholders and provide $324 million … I'm proud to work at The … With the advent of 5G, IoT and smart everything, traffic demands are increasing dramatically, and network operators must make smart choices as they evolve their infrastructure. The newly combined company allows Ribbon to enhance and broaden its existing customer offerings with ECI's industry-leading packet optical transport solutions. On March 3, 2020, we completed the transformative acquisition of ECI Telecom Group Ltd. ("ECI"), based in Israel (the "ECI Acquisition"). Our Products. You have many options for purchasing Ribbon Communications solutions. ECI stockholders will also receive approximately $31 million from ECI's sale of real estate assets. Cisco 22% . As part of the deal, ECI shareholders will also receive … To learn more, visit ribboncommunications.com. Ribbon Communications has entered into an agreement to acquire ECI Telecom Group, through a merger worth $324 million in cash. 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. Ribbon will pay $324 … ", McClelland added, "ECI's solutions are specifically designed to address the rapidly growing 5G ecosystem. 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. Revenue for first quarter of 2020 was $158 million compared with $119 million in first quarter of 2019, an increase of 33%. Shareholders will be able to obtain free copies of the proxy statement and other documents filed with the SEC by the parties through the website maintained by the SEC at sec.gov. Investor RelationsMonica Gould+1 (212) 871-3927IR@rbbn.com, Lindsay Savarese+1 (212) 331-8417IR@rbbn.com, US PressDennis Watson+1 (214) 695-2214dwatson@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-to-merge-with-eci-telecom-group-ltd-300958399.html. 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. Type a symbol or company name. WESTFORD, Massachusetts, March 4, 2020 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global software leader in secure and intelligent cloud communications, has … 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. Ribbon expects to provide updated financial guidance, which will include the ECI acquisition, during its first quarter 2020 earnings call. Ribbon Communications Inc. (Nasdaq: RBBN), a global software leader in secure and intelligent cloud communications, today announced that it has entered into an agreement to acquire, through a merger, … Ciena 13% . The complete portfolio of ECI solutions and products are available from Ribbon. Fujitsu 16% Huawei MRV Tejas 1% . 3  ECI's Adjusted EBITDA is obtained from ECI's financial statements as conformed to US GAAP and Ribbon's accounting practices. We are immediately focused on our integration efforts to unlock revenue expansion and drive shareholder value.". Our family of optical transport and switching … ECI is now Ribbon. This communication contains forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning Ribbon and ECI, the proposed transactions and other matters. 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. Align with Ribbon's strategic direction to expand its ecosystem, penetrate new adjacent markets and position the company for sustained growth. This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The Group helped a significant number of its portfolio companies go public on major stock exchanges in the US and Europe. ECI Telecom Group provides optical transport and SDN/NFV solutions and in addition to the cash pay out, ECI stockholders will also receive $31 … Create a larger US-based global solutions provider and strengthens the company's position in the converged telecom/datacom market. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, agility and automation and includes optical and packet networking, core to edge IP solutions, UCaaS/ CPaaS cloud offers, and leading-edge software security and analytics tools. Ribbon offers innovative IP and optical networking solutions and cloud-to-edge communications solutions. Ribbon's corporate headquarters is expected to remain in Westford, Massachusetts. SHAREHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT RIBBON, ECI Telecom Group Ltd. ("ECI"), THE PROPOSED TRANSACTIONS AND RELATED MATTERS. Company profile page for ECI Telecom Group Ltd including stock price, company news, press releases, executives, board members, and contact information ECI is a global provider of ELASTIC network solutions to service providers, critical industries and data center operators. We wish to caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Accordingly, there is no assurance that the expectations of Ribbon or ECI will be realized. Apollo Optical Systems. While Ribbon may elect to update forward-looking statements at some point, Ribbon specifically disclaims any obligation to do so. These solutions include optical and IP systems for 5G networks, mobile back-haul, metro … 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. BTI2% 8% . ECI Telecom operates as a global manufacturer of … Cyan 8% ECI Telecom 4% . Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. ECI stockholders also stand to gain approximately $31 million from … View Tim Holman’s profile on LinkedIn, the world’s largest professional community. 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 reservation number for the replay is 13696843. To learn more, visit ribboncommunications.com. The Electronics Corporation of Israel became ECI Telecom in 1981, and had its first trading on NASDAQ in 1982. 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. WESTFORD, Mass. Information regarding Ribbon's directors and executive officers is contained in Ribbon's Annual Report on Form 10-K/A for the year ended December 31, 2018 and its Proxy Statement on Schedule 14A, dated April 25, 2019, which are filed with the SEC. © 2021, Nasdaq, Inc. All Rights Reserved. "ECI brings world class networking technology and a proven track record of success in winning top customers in direct competition with major industry players. "We aim to create a powerhouse company that offers world-class products for an enhanced customer experience, benefiting our combined global customer base. Furthermore, the combined company will be well positioned to serve the high-growth 5G market. 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. Share … Therefore, you should not place undue reliance on such statements. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. WESTFORD, Mass., Nov. 14, 2019 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global software leader in secure and intelligent cloud communications, today announced that it has entered into an agreement to acquire, through a merger, 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, for 32.5 million shares of Ribbon common stock and $324 million of cash. Ribbon Communications Inc. ("Ribbon") will file with the United States Securities and Exchange Commission (the "SEC") a proxy statement of Ribbon relating to a special meeting of Ribbon's stockholders (the "proxy statement"). Position Ribbon to leverage its global salesforce to cross-sell ECI's products to key geographies, such as. Ribbon Communications' merger with ECI Telecom last year appears to have been a success. Find the latest 6352 (ECI) stock quote, history, news and other vital information to help you with your stock trading and investing. Regarding the company's merger with ECI, Ribbon agreed to acquire ECI for 32.5 million shares of Ribbon stock and $324 million in cash. The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties, including statements made by our president and chief executive officer and our chief financial officer; and statements regarding the expected benefits from the ECI merger, including but not limited to the potential growth into adjacent new markets, the increase in Ribbon's total addressable market, profitability and cash flow, and the introduction into the 5G market. Under the terms of the merger agreement, Ribbon will acquire all outstanding equity of ECI. 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. For more information, visit ECI at ecitele.com. We look forward to working closely with all of our employees to leverage Ribbon's strong foundation to build sustained, long-term growth. The combination of Ribbon and ECI creates an industry-leading communications software and networking company with a comprehensive portfolio of advanced voice, security, data and optical networking solutions. In addition, investors and shareholders will be able to obtain free copies of the proxy statement and other documents filed with the SEC by the parties on Ribbon's website at investors.ribboncommunications.com. Ribbon Completes Merger with ECI Telecom Group Ribbon Communications, a global communications software and network solutions provider, has completed its previously announced acquisition of ECI Telecom Group … Any forward-looking statements represent Ribbon's views only as of the date on which such statement is made and should not be relied upon as representing Ribbon's views as of any subsequent date. The ECI Acquisition further expanded our focus and … Conference Call Details:Date: November 14, 2019Time: 9:00 a.m. (ET)Dial-in number (Domestic): 877-407-2991Dial-in number (Intl): 201-389-0925Instant Telephone Access: Call me™. Provide the combined company's customers and partners with a broader solutions portfolio from a larger scale and trusted vendor. 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.

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