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Eicon
Networks to Purchase Intel's Media and Signaling Business
News Source : Intel
Seoul, Aug 10 2006 (Korea Newswire)--
Eicon Networks Corporation ("Eicon") and Intel Corporation
today announced that they have signed an agreement for Intel
to sell the assets of its media and signaling business to
Eicon.
The acquisition is expected to allow Eicon to become a
leading player in the media processing and signaling market
segment. The sale will enable Intel to focus its investments
on its core communications and embedded businesses,
including Intel? Architecture and network processors,
modular communications platforms and optical modules. The
transaction is expected to close in approximately four to
six weeks and is subject to regulatory review and normal
closing conditions. Financial terms are not being disclosed.
Intel's media and signaling business includes all of the
product lines from Intel's Dialogic acquisition, as well as
Host Media Processing (HMP) software and HMP-enabled blades.
Intel's complete line of SS7, PBX integration and gateway
solutions are also included in the sale.
With Eicon's complementary Diva Server line of products, it
is anticipated that the acquisition will enable Eicon to
provide enhanced enterprise and service provider offerings
to current Eicon and Intel customers as well as future
customers. Eicon plans to continue to work closely with
Intel as an active member of the Intel? Communication
Alliance.
Eicon also announced that concurrently with the acquisition,
leading global investment groups Investcorp Technology
Ventures and Tennenbaum Capital Partners will invest in
Eicon, with Investcorp serving as the lead equity investor
in the transaction and Tennenbaum providing a credit
facility and serving as an equity co-investor.
"This is a very exciting day for Eicon," said Nick Jensen,
Eicon Networks' president and CEO. "Eicon's and Intel's
media and signaling products complement each other well. We
expect this acquisition to extend our global reach with
solutions for both traditional circuit switch communication
technology and leading-edge IP platforms for both
enterprises and service providers.
"We are also very pleased that the prestigious investment
firms of Investcorp and Tennenbaum believe so strongly in
the potential of the company following the acquisition that
they have chosen to become shareholders in Eicon," Jensen
added.
"Our investment in the combination of Eicon and the Intel
assets reflects our confidence in the tremendous potential
of the media and signaling space," said Savio Tung, head of
Investcorp Technology Ventures. "Equally important, we have
a great deal of experience executing complex spin-out
transactions to help ensure a smooth transition with Eicon."
"We are delighted to have the opportunity to invest in the
combination of Eicon and the Intel assets," said Steven
Chang, a Partner at Tennenbaum. "We're committed to
providing management with the financial resources and
expertise they need to continue to provide innovative
products and services to customers and grow the business.
This investment underscores Tennenbaum's continued
commitment to investing in technology companies and
highlights our confidence in the media processing and
signaling market segments."
"Intel is sharpening its focus on communications and
embedded market segments that are aligned with our core
businesses," said Anthony Neal-Graves, general manager of
Intel's Modular Communications Platform Division. "The media
and signaling business continues to present an attractive
market opportunity, and these products will continue to be
an important part of the Intel ecosystem. We will continue
to collaborate with Eicon to ensure that customers have
complete and competitive Intel Architecture-based
solutions."
Intel's media and signaling business includes approximately
600 employees involved in a variety of functions, including
engineering, product testing and validation, operations and
marketing. It is expected that a significant number of these
employees will become employees of Eicon. The two companies
will be working together during the coming months to
seamlessly transition the business in order to continue to
offer high quality service and support to all customers.
This sale does not impact Intel's communications
infrastructure products for telecommunications equipment
manufacturers, including its industry-leading Advanced
Telecom Computing Architecture* (ATCA) blades and
carrier-grade rack mount servers, and its CompactPCI*
compute blades and chassis.
About Eicon Networks
Eicon Networks, founded in 1984, provides media processing
hardware and software that enable developers and system
integrators to deliver applications for voice, speech,
conferencing, VoIP, fax and IP based solutions. Eicon's
flagship Diva Server products share a powerful common
architecture along with a wide range of tools for developers
and market leading support. Further information is available
at www.eicon.com.
About Investcorp Technology Ventures
Based in New York and London, Investcorp Technology Ventures
focuses on venture buyouts, corporate spinouts and growth
capital financing of established technology companies.
Investcorp Technology Ventures is part of Investcorp, a
global investment group with offices in New York, London and
Bahrain. It was established in 1982 and has since completed
transactions with an aggregate value of approximately $30
billion. Investcorp currently manages over $9.9 billion in
private equity, venture capital, real estate and other
alternative investments. Further information is available at
www.investcorp.com.
About Tennenbaum Capital Partners
Tennenbaum Capital Partners is a Santa Monica,
California-based private investment firm managing over $4
billion in private funds. Tennenbaum focuses on investment
opportunities between $50 million to $250 million. The
firm's investment strategy is based on a long-term horizon
and value-oriented approach. Tennenbaum's core strengths
include an in-depth knowledge of equity and debt financing
vehicles in the public and private markets with a focus on
complex investments such as acquisitions and special
situations. Tennenbaum has extensive investment experience
in several industries, including retail, manufacturing,
energy and power as well as technology and telecom. Recent
investments in the technology sector include Celerity, Inc.,
Enterasys Networks, Information Resources, Inc., Isola
Group, Lawson Software, Online Resources Corporation and
Vitesse Semiconductor. For more information, please visit
www.tennenbaumcapital.com.
Intel Corporation
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2200 Mission College Blvd.
Santa Clara, California 95054
Intel, the world's largest chip maker, is also a leading
manufacturer of computer, networking and communications
products. Additional information about Intel is available at
www.intel.com/pressroom
Eicon Diva, Diva Server and the Eicon logo are trademarks of
Eicon Networks Corporation or its subsidiaries.
Intel is a registered trademark of Intel Corporation or its
subsidiaries in the United States and other countries.
* Other names and brands may be claimed as the property of
others.
