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CommScope Holding Company, now Vistance Networks, reports developments around its transition into a focused network-solutions company after the completed sale of its Connectivity and Cable Solutions segment. News centers on the rebrand, capital-structure actions tied to the divestiture, operating results, and the remaining businesses built around RUCKUS Networks and Access Networks Solutions.
Company updates also cover RUCKUS Wi-Fi, switching, cloud-managed platforms, AI-enabled network management for multi-dwelling units, PRiSM secure-boot signing technology, and fiber architecture training and showcase initiatives for service providers. Financial releases discuss continuing operations, segment measures, debt repayment, share repurchase authorization, and cash distribution decisions.
CommScope is set to showcase its advancements in 10G technology and virtualized networks at the SCTE Cable-Tec Expo. They will demonstrate their Virtual Headend Portfolio, focusing on solutions for virtualizing modern operator networks. Key highlights include Fixed Wireless Access technology aimed at leveraging 5G capabilities and a new Distributed Access Architecture portfolio to enhance network density. Collaborations with operators like Mediacom and Tele Columbus AG will also be featured, aiming for improved broadband and network capacity.
CommScope has partnered with Ziply Fiber to deploy its Wi-Fi 6 home networking solutions, enhancing bandwidth support for subscribers. The collaboration aims to improve internet connectivity at gigabit speeds, vital for remote work and learning. Ziply Fiber will integrate CommScope’s X5 Wi-Fi Extenders and NVG578LX GPON gateway, fostering a high-performance Wi-Fi experience. This move reflects a response to rising consumer demand for robust home networking solutions. The advancements will be showcased at the SCTE - ISBE Cable-Tec Expo 2020 virtual event.
CommScope Holding Company (NASDAQ: COMM) announced the departure of Eddie Edwards, President and CEO, after 15 years. His successor, Charles “Chuck” Treadway, brings extensive leadership experience from various global companies. The Board highlighted Treadway’s potential to drive growth and capitalize on market opportunities, particularly in network infrastructure. Frank M. Drendel, founder, becomes Chairman Emeritus, while Bud Watts takes over as Chairman. The company reaffirmed its third-quarter outlook, expecting modest improvements in sales and non-GAAP adjusted EBITDA.
On Sept. 17, 2020, Conexon and CommScope announced a strategic partnership to enhance fiber-optic solutions for electric cooperatives, aiming to close the Digital Divide in rural America. With multiple state and federal funding initiatives, including a $30 million CARES Act grant for seven Mississippi electric power associations, the collaboration promises accelerated fiber deployment. CommScope's extensive resources will support cooperatives in meeting ambitious broadband milestones, particularly as they anticipate federal funding opportunities in 2021. The two companies aim to construct over two million miles of fiber-optic cable in the next decade.