Enterasys Trades Under the Symbol “ETS”; Reaches Milestone of Becoming an Independent Public Company
ROCHESTER, NH - August 6, 2001 - Enterasys Networks announced this morning that its common stock began trading on the New York Stock Exchange (NYSE) under the symbol “ETS.” In honor of this event, Henry Fiallo, Enterasys’ chairman and CEO, will ring the opening bell to begin today’s trading on the exchange.
“In just 17 short months, Enterasys has reached its goal of becoming an independent public company. Our listing on the NYSE is a crowning achievement, and marks a key point in our history. I would like to thank Enterasys’ partners, customers, employees and shareholders for their respective roles in contributing to our success. Enterasys has come a long way since its inception in March of 2000, and today’s announcement shows that our focus on serving enterprise customers and delivering innovative technology solutions has made us a force in the networking market,” Fiallo said.
With its focus on the enterprise market, one of the most stable and fastest growing areas in the networking sector, Enterasys has achieved a number of significant milestones in its brief history:
- Enterasys is a market leader, with strong positions in key growth segments including the number one position in the high-growth Layer 3 modular switching market. According to a recent Dell’Oro Group report, Enterasys is the only company to show quarterly market share growth in the Ethernet Switch market.
- Enterasys has a blue-chip customer base, with 34 of the global 50 and over half of the 250 largest U.S. enterprises as customers. In addition to having a significant installed base, Enterasys sold to more than 600 new customers in its first year, with approximately 20% of its revenues coming from these customers in the last quarter.
- With over 700 issued patents, Enterasys is the leading technology innovator in the enterprise market, focused on providing networking solutions that meet its customers’ security, availability and mobility requirements.
- Enterasys was the first company to announce a 10-Gigabit Ethernet strategy for the enterprise, and is the leader in 54 Mbps (802.11a) wireless LANs, already shipping the industry’s first 802.11a wireless access platform. The breadth and depth of Enterasys’ product line gives it significant competitive advantage over niche vendors.
- Technology Review recently ranked Enterasys as one of the top ten technology innovators in the world. In reviewing factors such as technology strength, number of patents and technology cycle time, Enterasys joined companies such as Nokia, Motorola and Qualcomm in the top ten.
- Enterasys was recently upgraded in Gartner’s Magic QuadrantÓ rating system. Enterasys moved into the “challenger” category, and was the only vendor to make positive movement in the magic quadrant.
“Enterasys Networks has proven that it can deliver solutions and service tailored to address the specific needs of the enterprise user,” said Tom Hartman, director of IT at Comcast-Spectacor. “With Enterasys, I feel like our business is valued; I know we wouldn’t get the same level of service or enterprise-focused solutions anywhere else.”
About Enterasys Networks
Enterasys Networks (NYSE: ETS) is a new type of company that combines a single market focus with a strong technology heritage to provide communications infrastructures for enterprise-class customers. Enterasys’ networking hardware and software offerings deliver the innovative security, availability and mobility solutions required by Global 2000 organizations coupled with the industry’s strongest service and support. Based in Rochester, New Hampshire, Enterasys was named a “Company to Watch in 2001” by CIO Magazine. For more information, visit enterasys.com.
This release may contain projections or other forward-looking statements regarding the future financial performance of the company or other future events and circumstances. Such forward-looking statements by their nature involve risks and uncertainties, and actual results or events could differ materially. Risks that could cause actual events or results to differ materially from those described in the forward-looking statements include business disruption and market perceptions associated with the company's emergence as an independent public company, as well as risks associated with competitive conditions, pricing and margin pressures as a result of product shifts and changes in market dynamics, greater use of, and expenses associated with, distributors and resellers, limited management resources, the company's acquisition strategy, volatility in the stock markets and market valuations being placed on communications infrastructure and service companies, technological chang!
es, intellectual property protection and related issues, dependence on suppliers and contract manufacturers, and potential volatility in operating results, among others. For a more detailed discussion of these and other risks and uncertainties related to the company's business, please refer to Cabletron Systems, Inc.’s most recent filings with the Securities and Exchange Commission, including the its most recent annual report on Form 10-K, and its other more recent reports on Form10-Q and Form 8-K.
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Martin Brindley/Adrian Brophy
MCC International Ltd
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