Overture and Hatteras complete merger

Overture Networks is leveraging this week's COMPTEL trade show in Las Vegas to announce the completion of its merger with fellow Ethernet Access Device (EAD) vendor Hatteras Networks.

"With the merger completed, our united teams are focused on delivering a universal Ethernet services platform to a market hungry for greater freedom of choice," said Jeff Reedy, chief executive officer (CEO), Overture Networks in a release.

Set to operate out of its Research Triangle Park, N.C. headquarters, the company will be led by Overture Networks' current CEO Jeff Reedy. The new leadership team will also include Hatteras Networks' former CEO Kevin Sheehan who will become the combined company's new president, while Overture co-founder Prayson Pate becomes Senior Vice President of Engineering and Matt Squire becomes Overture's new CTO.

In addition to its Research Triangle Park location, Overture plans to maintain its Richardson, Texas-based technology center and plans to retain and expand its current employee base--something that's almost unheard of in most company mergers.

When combined, the two companies will combine their respective strengths in Ethernet to serve a number of copper and fiber configurations for 1 Mbps to 10 Gbps business services, wireless and DSLAM backhaul and packet-based networks.

While the combined company will boast a larger array of EAD options for its domestic and international customers, the one near-term opportunity that the new company will likely chase is Ethernet over Copper and Ethernet over Bonded T1. This is a market where service providers are looking to expand Ethernet service into buildings and that house both small to medium businesses and even remote offices of larger enterprises where they can't cost justify installing a fiber.

For more:
- see the release

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