DZS Completes Sale of Service Assurance and WiFi Management Portfolio to AXON Networks
Rhea-AI Summary
DZS (OTC: DZSI) has completed the sale of its service assurance and WiFi management software portfolio to AXON Networks. The transaction includes the Expresse, CloudCheck, and TruSpeed assets and IP patents. This strategic move allows DZS to concentrate its development and market efforts on its core broadband Networking, Connectivity and Cloud Edge software portfolio. The company's CEO, Charlie Vogt, described the sale as beneficial for all parties involved, including DZS, AXON, and customers.
Positive
- Strategic divestment allows focus on core business segments
- Sale of non-core assets potentially improves operational efficiency
Negative
- Reduction in product portfolio diversity
- Potential loss of revenue stream from divested assets
News Market Reaction – DZSI
On the day this news was published, DZSI gained 4.29%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
DZS to focus its development and go-to-market strategy on its Networking, Connectivity and Cloud Edge software portfolio
DALLAS, Oct. 25, 2024 (GLOBE NEWSWIRE) -- DZS (OTC: DZSI), a global leader of Networking, Connectivity and Cloud Edge software solutions enabling broadband everywhere, today announced it has completed the sale of its service assurance and WiFi management software portfolio to AXON Networks (AXON).
“The closing of the sale of our Expresse, CloudCheck, and TruSpeed assets and IP patents to AXON Networks represents a win for DZS, AXON and customers,” said Charlie Vogt, President and CEO, DZS. “DZS will focus its development and go-to-market strategy on its core broadband Networking, Connectivity and Cloud Edge software portfolio.”
About DZS
DZS (OTC: DZSI) a developer of Network Edge, Connectivity and Cloud Edge software solutions enabling broadband everywhere.
DZS, the DZS logo, and all DZS product names are currently trademarks of DZS Inc. Other brand and product names are trademarks of their respective holders. Specifications, products, and/or product names are all subject to change.
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Private Securities Litigation Reform Act of 1995. These statements reflect the beliefs and assumptions of the Company’s management as of the date hereof. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” variations of such words, and similar expressions are intended to identify forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. The Company’s actual results could differ materially and adversely from those expressed in or contemplated by the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, those risk factors contained in the Company’s SEC filings available at www.sec.gov, including without limitation, the Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and subsequent filings. In addition, additional or unforeseen effects from the COVID-19 pandemic and the global economic climate may give rise to or amplify many of these risks. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. DZS undertakes no obligation to update or revise any forward-looking statements for any reason.
For further information see: www.dzsi.com.
DZS on Twitter: https://twitter.com/dzsi_innovation
DZS on LinkedIn: https://www.linkedin.com/company/dzs/
Investor Inquiries:
Geoff Burke, SVP Marketing and Investor Relations, DZS
Email: IR@dzsi.com
Press Inquiries:
Kenny Vesey, Thatcher+Co.
Phone: +1 973.518.3644
Email: kvesey@thatcherandco.com
FAQ
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