BigBand Buys ADC's IP Cable Unit

ADC announces agreement to sell Internet protocol cable platform to BigBand Networks

May 25, 2004

2 Min Read

MINNEAPOLIS -- ADC (Nasdaq:ADCT, announced today that it has entered into an agreement to sell its Cuda(TM) cable modem termination system (CMTS) product line and FastFlow® Broadband Provisioning Manager software to BigBand Networks. As part of the agreement, ADC will acquire a minority interest in Redwood City, Calif.-based BigBand Networks. Additional terms of the transaction were not disclosed. The agreement is expected to close in approximately 30 days, subject to customary closing conditions. After the transaction is complete, BigBand Networks will assume control of the Cuda and FastFlow product lines as well as employees, current relationships with Cuda customers and facility space in Westborough, Mass.

ADC will continue to serve cable operators around the world with its line of hybrid fiber coax products, RF amplifiers, splitters and combiners, power distribution and fiber and copper connectivity products. In addition, ADC's systems integration services including installation and decommissioning services, continues to assist and support cable providers as they deploy new equipment to deliver video, voice and data services to consumers and businesses. "This transaction is about focusing on what ADC and BigBand Networks each do best. ADC is focused on helping cable operators with our high-performing connectivity products and systems integration services, which are ADC's core strengths," said Bob Switz, president and CEO for ADC. "Based on its established relationships with major operators and its platforms for broadband multimedia services, BigBand Networks' core strengths are well-suited to offer the Cuda CMTS product line and FastFlow Broadband Provisioning Manager software to the cable industry."

"ADC and BigBand Networks are acting in the best interests of our customers, enhancing the value of connectivity and broadband multimedia solutions in the cable marketplace," said Amir Bassan-Eskenazi, president and CEO for BigBand Networks. "Adding the Cuda and FastFlow product lines and teams positions BigBand Networks to lead broadband network convergence, enabling better video, voice and data services for subscribers."

ADC Telecommunications Inc.

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