SILVERWOOD PARTNERS ADVISES NEWFOUND TECHNOLOGY IN ACQUISITION OF DV6000® VIDEO PRODUCT LINE FROM C-COR INCORPORATED (NASDAQ: CCBL)SHERBORN, MA – March 7, 2006
Newfound Technology Corporation announced today the acquisition of the DV6000® product line from C-COR Incorporated (NASDAQ: CCBL) pursuant to an asset purchase agreement dated March 6, 2006. Silverwood Partners initiated this transaction and was the exclusive financial advisor to Newfound Technology.
The DV6000 product line will be added to Newfound’s video transport division, Artel Video Systems, creating one of the largest portfolios of broadcast quality video transport products for cable operators, video transport service providers and broadcasters. “The DV6000 is an excellent addition to Artel’s rapidly growing family of video transport products. Artel now supports the largest installed base of broadcast quality video transport hardware in the world,” said Richard Dellacanonica, President of Newfound Technology. “Newfound is committed to the DV6000 product family for the long term. We will continue to manufacture and support the entire product line as well as offer enhancements and additional capabilities.”
About Newfound Technology Inc.
Newfound Technology, headquartered in Boxborough, Massachusetts, is a worldwide supplier of hardware and engineering solutions for the telecommunications, Department of Defense, and industrial markets. Through its Artel Video Systems division, Newfound Technology provides broadcast quality video-transport-over-fiber-optics hardware that meets the demanding requirements of Cable TV operators and video service providers for rugged, dependable and flexible solutions. For additional information regarding Newfound Technology and Artel Video Systems, visit www.newfoundtech.com or www.artel.com.
C-COR offers world-class, market-focused business solutions for cable operators, telephone companies, broadcasters, and other private and public sector entities that put subscribers in personal control of their entertainment, information, and communication needs. The Company’s solutions simplify the transition to Internet Protocol (IP) demand-oriented networks by delivering interoperable, modular products in sync with IP network upgrade cycles. These solutions bring together On Demand and OSS applications, broadband access technology, and a nationwide corps of expert field engineers to enable the delivery of business services; digital program/ad insertion; management and delivery of VOD, VoIP, and HSD; network capacity expansion; centralized office automation for workforce management, network assurance, and subscriber fulfillment; and a variety of outsourced field services that help keep networks operating at peak performance. C-COR’s common stock is listed on the NASDAQ National Market (Symbol: CCBL) and is a component of the Russell 2000 Stock Index. For additional information regarding C-COR, visit www.c-cor.com.
About Silverwood Partners
Silverwood Partners is a sector focused investment bank that provides M&A and private capital raising advisory services to information, communications, financial services, and digital imaging technology companies, and healthcare, industrial and consumer companies. Silverwood delivers acquisition, divestiture or corporate sale advisory, strategic-financial advisory and institutional financing services to companies in its targeted business sectors. For additional information, visit Silverwood’s Website at www.silverwoodpartners.com.
This release may include forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, about the future performance of one or more public companies. There are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements, such as the competitive market in which any company operates, market acceptance of a public company’s existing and new products, a public company's ability to anticipate customer needs and the other factors set forth under the caption “Certain Factors That May Affect Future Results,” or similar, in a public company’s filings with the Securities and Exchange Commission. In addition, any forward-looking statements contained herein represent an estimate only as of the date of such statement and should not be relied upon as representing an estimate as of any subsequent date.