PETALUMA, Calif. -- Calix, Inc. (NYSE:CALX) today announced that it completed the acquisition of Occam Networks following approval by Occam stockholders on February 22, 2011. At the effective time of the merger, each outstanding share of Occam Networks common stock was converted into the right to receive (a) $3.8337 in cash plus (b) 0.2925 of a validly issued, fully paid and non-assessable share of Calix common stock. At the effective time of the merger, holders of these outstanding shares of Occam were entitled to receive an aggregate of approximately $83.3 million in cash and approximately 6.4 million shares of Calix common stock. In addition, at the effective time of the merger holders of certain outstanding options were entitled to receive an aggregate of approximately $10.8 million in cash, and Calix assumed certain options to purchase an aggregate of approximately 636,000 shares of Calix common stock and assumed certain restricted stock units for an aggregate of approximately 65,000 shares of Calix common stock.

The combined organization of Calix and Occam Networks creates a global provider of broadband communications access systems and software with North American market leadership in key growth areas:

"The combination of Occam and Calix can be summed up in one word: Acceleration," said Carl Russo, president and chief executive officer of Calix. "By combining Occam Networks' expertise in IP and Ethernet, Calix's strength in fiber access, and both companies' experience in copper access, we believe this merger will accelerate our pace of innovation within the now expanded Calix Unified Access portfolio. We expect that our innovation will in turn accelerate our customers' ability to meet the emerging needs of the broadband subscriber, while also making communications service providers more efficient. We are extremely excited about this combination, and look forward to extending a warm welcome to the hundreds of new customers who are now joining the Calix family."

Occam Networks Inc. (Nasdaq: OCNW)

Calix Inc. (NYSE: CALX)