Ribbon Communications Announces Completion of Edgewater Networks, Inc. Acquisition
WESTFORD, Mass., Aug. 13, 2018 /PRNewswire/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global leader in secure and intelligent cloud communications, today announced that it has closed the acquisition of Edgewater Networks, a market leader in Network Edge Orchestration for the distributed enterprise and Unified Communications (UC) market.
"The acquisition of Edgewater Networks aligns perfectly with our strategic initiatives," said Fritz Hobbs, President and Chief Executive Officer of Ribbon Communications. "In addition to becoming a market leader in enterprise Session Border Controllers, it allows us to immediately extend Edgewater solutions internationally, expand our cloud offerings, and enter the SD-WAN market."
"We project that this acquisition will be immediately accretive to Ribbon for the remainder of fiscal 2018," said Daryl Raiford, Chief Financial Officer of Ribbon Communications. "We will provide an update on our consolidated outlook for full year 2018 for both revenue and adjusted EBITDA, including Edgewater, on our third quarter 2018 earnings call."
About Ribbon Communications
Ribbon Communications Inc. (Nasdaq: RBBN) is a company with two decades of market leadership experience in providing secure real-time communications solutions to the top service providers and enterprises around the globe. Built on world-class technology and intellectual property, Ribbon delivers highly reliable, unified and embedded real-time communications capabilities to customers in more than 25 countries and on 6 continents. The Company transforms fixed, mobile and enterprise networks from legacy environments to all IP and fully virtualized, secure, cloud-based architectures, enabling highly productive communications for consumers and businesses. Ribbon's market-leading communications security solutions are based on a big data behavioral analytics platform and offer customers enhanced network intelligence and security. The Company's Kandy Communications Platform-as-a-Service (CPaaS) enables rapid service creation and digital transformation by delivering customers a comprehensive set of advanced embedded and unified communications capabilities. To learn more, visit ribboncommunications.com.
Important Information Regarding Forward-Looking Statements
The information in this release contains forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are regarding future events that involve risks and uncertainties, including statements regarding delivering value to customers. All statements other than statements of historical facts contained in this release are forward-looking statements, including statements regarding the expected benefits to Ribbon Communications, including benefits to customers, introduction of new solutions, and statements regarding expected future financial performance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
Additionally, various risks and uncertainties could affect Ribbon Communications' actual results and cause such results to differ materially from those contemplated by the forward-looking statements, including, without limitation, Ribbon's success integrating the businesses of Edgewater Networks; Ribbon's ability to realize the anticipated benefits from the transaction; and the effects of disruption from the transaction, making it more difficult to maintain relationships with employees, customers, business partners or government entities. For further information regarding risks and uncertainties associated with Ribbon Communications' business, please refer to the "Risk Factors" section of Ribbon Communications' most recent annual report on Form 10-K filed with the SEC. Any forward-looking statements represent Ribbon Communications' views only as of the date on which such statements are made and should not be relied upon as representing Ribbon Communications' views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.
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SOURCE Ribbon Communications Inc.
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