DZSI - DZS to Acquire Subscriber Access Technology Leader NetComm | Benzinga
DALLAS, May 06, 2024 (GLOBE NEWSWIRE) -- DZS (NASDAQ:DZSI), a global leader of broadband networking and software-defined cloud solutions, today announced a binding agreement to acquire NetComm Wireless Pty Ltd. (NetComm).
The acquisition of NetComm's Fiber Extension, Fixed Wireless Access (FWA), Home Broadband and Industrial Internet of Things (IoT) products and patents combined with DZS' category defining broadband networking and cloud software solutions will create one of the world's most comprehensive and technologically advanced last mile broadband access portfolios. NetComm has approximately 50 active communications service provider (CSP) and enterprise customers in the United States, Canada, Latin America, Europe, Australia and New Zealand. In addition to the substantial technology synergies, DZS will on-board the majority of the NetComm employees, of which, approximately 60% are research & development and customer care team members.
NetComm has a long history of innovation in developing differentiated broadband access technology with a focus on quality, performance and operational simplicity including self-install capabilities. The transaction is expected to close during the second quarter of 2024. Among active NetComm customers are numerous large scale CSPs such as UScellular (the fourth-largest full-service wireless carrier in the United States), Bell Canada (Canada's largest telecom company), Vodafone (one of the world's largest telecom operators), Telstra (Australia's largest telecom company), Aussie Broadband (Australia's fourth-largest ISP) and More Telecom (fast-growing Australian ISP), all of which have been previously disclosed.
"The acquisition of NetComm underscores our commitment to innovation at the network edge and further aligns with our vision and strategy of becoming the premier technology leader in broadband networking and cloud software management solutions," said Charlie Vogt, President and CEO, DZS. "While we are technology evangelists for broadband everywhere and fiber-first architectures, fixed and mobile service providers will continue to evolve their networks and leverage a variety of technologies that best fit the geography, topology, and economics of the markets they serve. With the addition of NetComm's fiber extension, fixed wireless, WiFi 7 home broadband and industrial IOT products, the expanded DZS portfolio arguably will represent one of the most complete and technologically advanced open and standards-based broadband networking and cloud management software portfolios in the world and be uniquely aligned with the breadth of CSP needs and architectures. We are especially enthusiastic about the new team members that will be joining DZS upon completion of the transaction and the opportunity ...