Zhone completes acquisition of Sorrento

July 1, 2004

1 Min Read

OAKLAND, Calif. -- Zhone Technologies, Inc., the first company dedicated to building total-delivery solutions for voice, data and video content services worldwide, announced today that it completed the acquisition of Sorrento Networks Corporation.

As a result of the merger, Sorrento stockholders will receive 0.90 of a share of Zhone common stock for each outstanding share of Sorrento common stock. Zhone’s shares will continue to trade on the NASDAQ Stock Market under the symbol ZHNE. Sorrento’s shares will no longer be traded under the symbol FIBR.

“This transaction allows the combined company to address a broader portfolio of service providers,” said Mory Ejabat, Chairman and Chief Executive Officer of Zhone. “Customers of both companies will realize the benefits of the combined solution set.”

Zhone Technologies Inc.

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