CMTN-Tut Merger ApprovedCMTN-Tut Merger Approved
Shareholders give the green light to Tut's acquisition of Copper Mountain assets
May 27, 2005
LAKE OSWEGO, Ore. and PALO ALTO, Calif. -- Tut Systems (NASDAQ:TUTS), a leader in delivering video and data services over broadband networks, and Copper Mountain Networks, Inc. (NASDAQ:CMTN) announced today that the Special Meeting of Stockholders of Copper Mountain Networks was held this morning to approve the merger of Copper Mountain with Tut Systems. At that meeting a majority of the outstanding shares of Copper Mountain voted in favor of the merger. The merger is scheduled to close on June 1, 2005.
Sal D'Auria, Chairman, President and CEO of Tut Systems stated, "I am delighted by the vote of confidence that the Copper Mountain stockholders have given this transaction. I have every expectation that this acquisition will strengthen our leadership position in the IPTV market and allow us to better address current and future market opportunities."
Copper Mountain Networks Inc.
Tut Systems Inc.
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