Vistance Networks (NASDAQ: COMM) to sell RUCKUS segment to Belden for $1.846B

Rhea-AI Filing Summary

Vistance Networks, Inc. entered into a Purchase Agreement to sell its RUCKUS reporting segment to Belden Inc. for $1.846 billion in cash on a cash-free, debt-free basis, subject to customary adjustments.

Closing is expected in the second half of 2026, after regulatory and other conditions are met and specified carveout financial statements are delivered. The agreement includes employee protections for 12 months, a three-year noncompete and non-solicitation by Vistance regarding the divested business, and mutual indemnities for defined liabilities and tax matters. At closing, the parties will also sign an Intellectual Property Matters Agreement and a Transition Services Agreement covering ownership, cross-licenses of key intellectual property and short-term support services.

Insights

M&A and corporate strategy analyst

Vistance plans a major portfolio shift by selling its RUCKUS segment for cash.

Vistance Networks agreed to sell its RUCKUS reporting segment to Belden for $1.846 billion in cash on a cash-free, debt-free basis. This represents a significant portfolio change, effectively separating the RUCKUS business from Vistance’s retained operations, with closing targeted for the second half of 2026.

The deal structure includes a detailed covenant package: Vistance must operate the business in the ordinary course until closing, maintain relationships with key stakeholders, and accept a three-year noncompete and non-solicitation for RUCKUS employees, subject to exceptions. Belden commits to maintain employee cash compensation and severance levels for 12 months following closing.

Regulatory approvals are a central execution factor. Belden will lead the approval strategy and has agreed to take any actions necessary, including divestitures or operational restrictions relating solely to the RUCKUS business, conditioned on closing. An Intellectual Property Matters Agreement and Transition Services Agreement should help smooth the operational handoff while allowing Vistance ongoing access to certain licensed IP for its retained business.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Cash consideration: $1.846 billion Expected closing timing: Second half of 2026 Outside Date: 9 months +5 more

8 metrics

Cash consideration $1.846 billion Purchase price for RUCKUS reporting segment on a cash-free, debt-free basis

Expected closing timing Second half of 2026 Targeted closing period for the transaction

Outside Date 9 months Initial deadline before either party can terminate if closing not completed

Outside Date extension 3 months Automatic extension if closing delay is solely due to regulatory approvals

Noncompete duration 3 years Period Vistance agrees not to compete with the RUCKUS business after closing

Non-solicitation duration 3 years Period Vistance agrees not to solicit or hire certain RUCKUS employees

Employee compensation protection 12 months Time Belden will maintain aggregate target cash compensation at current levels

Fundamental reps survival 36 months Survival period for certain fundamental representations and warranties

Key Terms

Purchase Agreement, cash-free, debt-free basis, Outside Date, representation and warranty insurance, +2 more

6 terms

Purchase Agreement financial

"entered into a Purchase Agreement (the “Purchase Agreement”), pursuant to which Belden has agreed to purchase"

A purchase agreement is a legally binding contract that spells out exactly what is being bought, for how much, and under what conditions, including timelines, seller and buyer promises, and protections if things go wrong. For investors it matters because the agreement fixes the deal’s price, risks and closing conditions—like a detailed receipt and return policy for a large transaction—so it helps determine whether the deal will complete and how it will affect the company’s value and cash flow.

cash-free, debt-free basis financial

"in exchange for $1.846 billion in cash, on a cash-free, debt-free basis"

Outside Date regulatory

"if the Transaction has not occurred within 9 months (though this 9-month “Outside Date” will be extended"

An outside date is the final contractual deadline by which a planned deal—such as a merger, acquisition, or financing—must be completed; if the transaction hasn’t closed by that date, parties typically gain the right to walk away or trigger agreed remedies. It matters to investors because it sets a clear timetable for when uncertainty should end, and approaching or missing the outside date can raise the chance of deal failure, renegotiation, or changes to valuation.

representation and warranty insurance financial

"sole remedy of Belden for a breach by the Company ... will be the proceeds of any representation and warranty insurance"

Transition Services Agreement financial

"enter into certain ancillary agreements including an Intellectual Property Matters Agreement and a Transition Services Agreement"

A transition services agreement is a formal arrangement where one company continues to provide essential services—such as IT, human resources, or accounting—to another company after a business deal or change in ownership. It acts like a temporary bridge, ensuring smooth operations during a transition period. For investors, it provides clarity on how long support will last and helps assess potential costs and stability during the change.

Intellectual Property Matters Agreement financial

"The Intellectual Property Matters Agreement is described in more detail below."

Understanding 8-K Material Events →

false 0001517228 0001517228 2026-04-29 2026-04-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 29, 2026

VISTANCE NETWORKS, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-36146		27-4332098
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

2601 Telecom Parkway

Richardson, Texas 75082

(Address of principal executive offices)

Registrant’s telephone number, including area code: (972) 952-9700

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common Stock, par value $0.01 per share		VISN		The NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

Purchase Agreement

On April 29, 2026, Vistance Networks, Inc., a Delaware corporation (the “Company”) and Belden Inc., a Delaware corporation (“Belden”), entered into a Purchase Agreement (the “Purchase Agreement”), pursuant to which Belden has agreed to purchase, and the Company has agreed to sell, the Company’s RUCKUS reporting segment (the “Business”) in exchange for $1.846 billion in cash, on a cash-free, debt-free basis (subject to certain other customary adjustments) (the “Transaction”).

The closing of the Transaction (the “Closing”) will take place on the final business day of the calendar month immediately following the date that is the later of the third business day following the satisfaction or waiver of the closing conditions (described under “Conditions to the Transaction” below) and 30 days following the date on which the Company delivers certain specified carveout financial statements. The Closing is expected to occur in the second half of 2026.

Conditions to the Transaction

The consummation of the Transaction is subject to various closing conditions, including, among other things:

• with respect to each party’s obligation to close:

o the absence of any injunction or other law that prohibits consummation of the Transaction;

o the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and receipt of certain other necessary government consents;

• with respect to the Company’s obligation to close:

o the accuracy of the representations and warranties of Belden, subject to specified materiality standards;

o compliance, in all material respects, with the covenants to be performed by Belden contained in the Purchase Agreement;

• with respect to Belden’s obligation to close:

o the accuracy of the representations and warranties of the Company, subject to certain specified materiality standards;

o compliance, in all material respects, with the covenants to be performed by the Company contained in the Purchase Agreement;

o the completion of the restructuring of the Company to effect the separation of the Business from the Company’s other businesses in all material respects;

o the absence of any development, change, state of facts, condition, circumstance, occurrence, event or effect that, individually or in the aggregate, have had a “material adverse effect” with respect to the Business;

o the delivery of lien and guarantee releases with respect to the Company’s existing credit facility demonstrating that liens in respect of the Business have been released at or prior to the Closing; and

o the delivery of specified carve-out financial statements.

Employee Matters

Belden has agreed to provide to employees of the Business continued employment (or an offer of employment) that will include (i) aggregate total target cash compensation not less than that in effect prior to the Closing for 12 months following Closing, (ii) severance benefits consistent with the Company’s or its applicable subsidiaries’ existing severance benefits for 12 months following Closing and (iii) other employee benefits that are substantially comparable in the aggregate to the other such employee benefits provided to similarly situated employees of the applicable Belden entity for the calendar year in which Closing occurs (other than defined pension benefits and any equity compensation incentives).

Termination Rights

The Purchase Agreement may be terminated at any time prior to consummation of the Transaction for customary reasons, including if the Transaction has not occurred within 9 months (though this 9-month “Outside Date” will be extended for an additional 3 months if the Closing cannot occur solely as a result of the lack of certain regulatory approvals).

Other Terms of the Transaction

The Purchase Agreement contains customary representations, warranties and covenants for similar transactions that are subject, in some cases, to specified exceptions and qualifications contained in the Purchase Agreement. Certain fundamental representations and warranties will survive for 36 months following Closing. All other representations and warranties expire at the Closing and the sole remedy of Belden for a breach by the Company of such representations and warranties (other than fraud) will be the proceeds of any representation and warranty insurance which may be secured and paid for by Belden. The covenants include, among others, the following: (i) the Company is obligated to use commercially reasonable efforts to operate the Business in the ordinary course of business consistent with past practice in all material respects between the execution of the Purchase Agreement and Closing, (ii) the Company agrees to use commercially reasonable efforts to preserve intact the Business and maintain existing relations and goodwill with parties including customers, suppliers and employees between the execution of the Purchase Agreement and Closing, (iii) the Company agrees not to engage in certain activities with respect to the Business between the execution of the Purchase Agreement and Closing, except with the written consent of Belden (not to be unreasonably withheld, conditioned or delayed), (iv) the Company agrees, under the terms specified in the Purchase Agreement, not to compete with the Business, or hold any ownership interest in any person who engages in a business that competes with the Business (subject to certain exceptions, including with respect to the Company’s retained businesses), for a period of three years after the Closing, and (v) the Company agrees not to solicit for hire or hire certain Business employees for a three-year period following the Closing (subject to customary exceptions). Belden has agreed to take certain actions with regard to the non-solicitation of Company employees.

Each of the parties is required to use their respective reasonable best efforts to consummate the Transaction, including making required regulatory filings and obtaining related governmental consents. Belden will control, lead and direct the strategy for obtaining such approvals and all material interactions with governmental authorities, including determining the timing and approach to regulatory filings, responding to investigations or information requests, and deciding whether to contest or litigate any regulatory action. In connection therewith, Belden has agreed to take any actions necessary to secure required approvals, including agreeing to divestitures, contractual modifications, operational restrictions, or other remedies relating solely to the Business, so long any such actions are conditioned on the closing of the Transaction.

The Company has agreed to indemnify Belden for losses arising from breaches of the Company’s covenants contained in the Purchase Agreement, breaches of certain “fundamental representations,” certain liabilities excluded from the Transaction and pre-closing taxes in respect of the Business. Belden has agreed to indemnify the Company for losses arising from breaches of Belden’s covenants contained in the Purchase Agreement, certain guarantees and liabilities transferred to Belden in connection with the Transaction. Belden has also agreed to pay when due any post-closing taxes of the Business for which the Company could have liability.

Simultaneous with the closing of the Transaction, the parties will enter into certain ancillary agreements including an Intellectual Property Matters Agreement and a Transition Services Agreement covering certain customary services for a limited period of time following the Closing. The Intellectual Property Matters Agreement is described in more detail below.

The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, which is filed herewith as Exhibit 2.1 and is incorporated herein by reference.

The Purchase Agreement has been included to provide investors with information regarding its terms. It is not intended to provide any other factual information about the Company, Belden or the Business. The representations and warranties contained in the Purchase Agreement were made only for purposes of the Purchase

Agreement as of the specific dates therein, were solely for the benefit of the parties to the Purchase Agreement, may be subject to limitations agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties to the Purchase Agreement instead of establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under the Purchase Agreement and should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of representations and warranties may change after the date of the Purchase Agreement, which subsequent information may or may not be fully reflected in the Company’s or Belden’s public disclosures.

Intellectual Property Matters Agreement

In connection with the Transaction, Belden will acquire ownership of certain intellectual property rights primarily used or held for primary use in the Business. In addition, the parties have agreed to enter into an Intellectual Property Matters Agreement at Closing. Pursuant to the terms of the Intellectual Property Matters Agreement, the Company will assign to Belden those certain intellectual property rights primarily used or held for primary use in the Business. The Company will also license to Belden certain intellectual property rights used in the Business on a non-exclusive basis. Belden will license back to the Company and its subsidiaries, on a non-exclusive basis, certain assigned intellectual property for use by the Company in the field of the Company’s retained business.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.		Description
2.1		Purchase Agreement, dated April 29, 2026, by and between Vistance Networks, Inc. and Belden Inc.*
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

* This filing excludes schedules and exhibits pursuant to Item 601(a)(5) of Regulation S-K, which the registrant agrees to furnish supplementally to the SEC upon request by the SEC.

Forward Looking Statements

This communication includes certain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to future events and financial performance. These forward-looking statements include all statements that are not historical facts, and are generally identified by their use of such terms and phrases as “intend,” “goal,” “estimate,” “expect,” “project,” “projections,” “plans,” “potential,” “anticipate,” “should,” “could,” “designed to,” “foreseeable future,” “believe,” “think,” “scheduled,” “outlook,” “target,” “guidance” and similar expressions, although not all forward-looking statements contain such terms. This list of indicative terms and phrases is not intended to be all-inclusive.

These forward-looking statements are subject to various risks and uncertainties, many of which are outside our control, including, without limitation, the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement for the RUCKUS transaction; the inability to complete the proposed transaction due to the failure to satisfy any of the conditions to completion of the proposed transaction, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction; risks related to disruption of management’s attention from the Company’s ongoing business operations due to the transaction; the effect of the announcement of the proposed transaction on the Company’s relationships, operating results and business generally; the risk that the proposed transaction will not be consummated in a timely manner; exceeding the expected costs of the transaction; our dependence on customers’ capital spending on data, communication and entertainment equipment, which could be negatively impacted by a regional or global economic

downturn, among other factors; the potential impact of higher than normal inflation; concentration of sales among a limited number of customers and channel partners; risks associated with our sales through channel partners; changes to the regulatory environment in which we and our customers operate; changes in technology; industry competition and the ability to retain customers through product innovation, introduction, and marketing; changes in cost and availability of key raw materials, components and commodities and the potential effect on customer pricing and timing of delivery of products to customers; risks related to our ability to implement price increases on our products and services; risks associated with our dependence on a limited number of key suppliers for certain raw materials and components; risks related to the successful execution of cost saving initiatives; potential difficulties in realigning global manufacturing capacity and capabilities among our global manufacturing facility or those of our contract manufacturers that may affect our ability to meet customer demands for products; possible future restructuring actions; the risk that our manufacturing operations, including our contract manufacturers on which we rely, encounter capacity, production, quality, financial or other difficulties causing difficulty in meeting customer demands; our ability to incur indebtedness at acceptable interest rates or at all; our ability to generate cash to service any future indebtedness; the ability to recognize the expected benefits of the proposed transaction and prior sales transactions, including the expected financial performance of Vistance following the proposed transaction and prior sales transactions; the effect of the proposed transaction and prior sales transactions on the ability of Vistance to retain and hire key personnel and maintain relationships with its key business partners and customers, and others with whom it does business, or on its operating results and businesses generally; the response of Vistance’s competitors, creditors and other stakeholders to the proposed transaction and prior sales transactions; potential litigation relating to the proposed transaction and prior sales transactions; our ability to integrate and fully realize anticipated benefits from prior or future divestitures, acquisitions or equity investments; possible future additional impairment charges for fixed or intangible assets, including goodwill; our ability to attract and retain qualified key employees; labor unrest; product quality or performance issues, including those associated with our suppliers or contract manufacturers, and associated warranty claims; our ability to maintain effective management information technology systems and to successfully implement major systems initiatives; cyber-security incidents, including data security breaches, ransomware or computer viruses; the use of open standards; the long-term impact of climate change; significant international operations exposing us to economic risks like variability in foreign exchange rates and inflation, as well as political and other risks, including the impact of wars, regional conflicts and terrorism; our ability to comply with governmental anti-corruption laws and regulations worldwide; the impact of export and import controls and sanctions worldwide on our supply chain and ability to compete in international markets; changes in the laws and policies in the United States affecting trade, including the risk and uncertainty related to tariffs or potential trade wars and potential changes to laws and policies, that may impact our products and costs; the costs of protecting or defending intellectual property; costs and challenges of compliance with domestic and foreign social and environmental laws; the impact of litigation and similar regulatory proceedings in which we are involved or may become involved, including the costs of such litigation; the scope, duration and impact of disease outbreaks and pandemics, such as COVID-19, on our business, including employees, sites, operations, customers, supply chain logistics and the global economy; our stock price volatility; income tax rate variability and ability to recover amounts recorded as deferred tax assets; and other factors beyond our control.

These and other factors are discussed in greater detail under the heading “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025 and may be updated from time to time in our annual reports, quarterly reports, current reports and other filings we make with the Securities and Exchange Commission. Although the information contained in this press release represents our best judgment as of the date of this release based on information currently available and reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. Given these uncertainties, we caution you not to place undue reliance on these forward-looking statements, which speak only as of the date made. We are not undertaking any duty or obligation to update this information to reflect developments or information obtained after the date of this press release, except to the extent required by law.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 5, 2026		VISTANCE NETWORKS, INC.
		By:		/s/ Kyle D. Lorentzen
				Kyle D. Lorentzen
				Executive Vice President and Chief Financial Officer

FAQ

What did Vistance Networks (COMM) announce regarding its RUCKUS segment?

Vistance Networks agreed to sell its RUCKUS reporting segment to Belden Inc. for $1.846 billion in cash. The transaction is structured on a cash-free, debt-free basis with customary adjustments and is expected to close in the second half of 2026, subject to closing conditions.

How much cash will Vistance Networks (COMM) receive from the Belden transaction?

Vistance Networks will receive $1.846 billion in cash from Belden for selling the RUCKUS reporting segment. The price is on a cash-free, debt-free basis, with additional customary adjustments that may slightly change the final amount received at closing.

When is the Vistance Networks (COMM) RUCKUS sale to Belden expected to close?

The RUCKUS sale is expected to close in the second half of 2026. Closing will occur after regulatory and other conditions are satisfied and at least 30 days after Vistance delivers required carveout financial statements, with timing defined by the purchase agreement mechanics.

What protections do RUCKUS employees have in the Vistance Networks (COMM) deal?

Belden agreed to offer RUCKUS employees continued employment with target cash compensation and severance benefits at least equal to current levels for 12 months after closing. Employees will also receive other benefits substantially comparable in aggregate to those provided to similarly situated Belden employees.

Does the Vistance Networks (COMM) deal include noncompete or non-solicitation restrictions?

Yes. Vistance agreed not to compete with the RUCKUS business or own interests in competing businesses for three years after closing, subject to specified exceptions. Vistance also agreed not to solicit or hire certain RUCKUS employees for three years, with customary carveouts.

What is the Outside Date and termination right in the Vistance Networks (COMM) purchase agreement?

The purchase agreement can be terminated if closing has not occurred within nine months, known as the Outside Date. This Outside Date automatically extends by an additional three months if closing is delayed solely due to outstanding regulatory approvals required for the transaction.

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-2.1 EX-2.1 810.1 KB
• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB