ots Ad hoc-Service: ADVA AG <DE0005103006> ADVA Optical Networking Announces New Corporate Officer and Strategic Investment in OptXCon
Martinsried/Munich (ots Ad hoc-Service) -
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ADVA Optical Networking (Neuer Markt: ADV), a leading global provider of optical networking solutions, today announced the appointment of Brian P. McCann as Chief Sales & Marketing Officer and the funding of a strategic investment in OptXCon Inc.
Brian P. McCann will be appointed as Chief Sales & Marketing Officer, and will assume responsibility for global sales, marketing and product marketing efforts. Brian P. McCann was formerly President of ADVA Optical Networking Inc., USA, and responsible for all sales and marketing activities in the North American market since 1996. Brian L. Protiva will retain his title of Chief Strategy Officer and be responsible for strategy and research and development. Andreas G. Rutsch will retain his title of Chief Financial Officer and responsibilities for corporate finance/M&A, investor relations, personnel and legal affairs. Stephan Offermanns will also retain his title of Chief Operating Officer and responsibilities for production, logistics, quality and IT. Claus-Georg Müller, formerly Chief Technology Officer, will become a member of ADVA's Supervisory Board upon shareholder approval at the annual shareholders' meeting on May 24, 2000.
Brian L. Protiva said, "The change in leadership and responsibilities at ADVA marks a decisive strategic move towards the important North American optical networking market. Brian McCann has played a vital role in driving our North American business and will be able to draw on his exemplary leadership skills to focus on the global markets. My goals will be to support our shift in technology strategy from being a wholly enterprise-focused company toward developing solutions with a service-provider focus. Claus will continue to be involved in ADVA as a member of our Supervisory Board and provide strategic advice. The corporate officers fully support his decision and look forward to continuing our business relationship."
Strategic Investment in OptXCon, Inc. ADVA also announced a strategic investment in OptXCon, Inc., a U.S.-based start-up focusing on optical cross-connect solutions for Metropolitan Area Networks and Enterprise Networks. OptXCon, Inc. has been founded by the former Chief Operating Officer of Canoga Perkins, Donald P. Bouchard. ADVA will own 49% of the business and provide shareholder loans as working capital to the start-up over a period of two years, at which point it holds an exclusive option to purchase the business.
Brian L. Protiva stated, "This strategic investment reflects our belief in the importance of optical cross-connects in the future optical networking market. Optical cross-connects will complement our platforms of optical integrated access devices (OIADs) and metro access core systems and provide significant benefits to our telecommunication carrier and enterprise customers."
About ADVA Optical Networking ADVA Optical Networking is a global leader in optical networking. Since its foundation in 1994, ADVA has specialized in the design, development and delivery of cost-effective optical networking solutions. Its products are implemented in both private and public networks, including Data Centers, Storage Area Networks (SAN), and Metropolitan Area Networks (MAN) for fiber-based data services to the enterprise. Products and services are distributed via a global network of strategic business partners. The company currently has an installed base of more than 200 service providers and private enterprise customers. ADVA is headquartered in Munich, Germany, with a production and R&D facility in Meiningen and sales offices in Bristol, United Kingdom; Paris, France; Ramsey, New Jersey, USA; and Tokyo, Japan. Visit www.advaoptical.com for more information about ADVA Optical Networking.
The statements contained in this press release that are not purely historical are forward-looking statements. Such forward- looking statements include, but are not limited to, the statements regarding investments in OptXCon, Inc. Such forward- looking statements involve risks that could cause actual results to differ significantly from anticipated results. Risks that could cause actual results to differ significantly from such forward-looking statements include, but are not limited to, those contained in ADVA's 1999 annual report.
Published by: ADVA Optical Networking AG, Martinsried/Munich and Meiningen, Germany
ADVA Optical Networking Inc., Ramsey, New Jersey, USA
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