RICHARDSON, Texas-Intelect Communications Inc. announced it will sell its private networking business operated by its Intelect Network Technologies subsidiary.
The announcement is part of the company’s new corporate strategy, which includes plans to launch a new business unit and a new product and to change the company’s name to TeraForce Technology Corp.
“With our new direction, we will be creating value through innovation to capitalize on high-growth opportunities in exciting new markets,” said Herman Frietsch, the company’s chief executive officer and chairman of the board of directors.
Frietsch said the company’s strategy calls for bringing business partners into the development process at an early stage. He said TeraForce plans to rely on its new Aegean product and its new business unit, DNA Computing Solutions.
DNA Computing focuses on digital signal processing, and the Aegean product is designed to meet the needs of metro and access networks.
Eurotelecom Communications, which designs and installs communications infrastructures, has signed a letter of intent to purchase the Intelect Network Technologies subsidiary and its OmniLynx product line. Changing the company’s name requires shareholder approval, and the vote is expected for early next year.
