Overture, Hattaras to merge to offer stronger carrier Ethernet solutions

Carrier Ethernet companies Overture Networks and Hatteras Networks announced plans to merge the two companies into one firm. The combined company, which will use the Overture Networks name, will offer telecommunications and other service providers with a one-stop shopping solution for carrier Ethernet solutions.
The new company will keep headquarters in Research Triangle Park, N.C., where they are each based, but move to a new facility in the future. Overture CEO Jeff Reedy will become CEO of the new organization, while Hatteras Networks CEO Kevin Sheehan will take on a new role as president. The combined company will count more than 200 employees.
During a conference call announcing the merger, Reedy and Sheehan said both companies are coming off record revenue years, noting the merger is done from a position of strength as each company is No. 1 in its own space. Hatteras offers Ethernet over bonded copper solutions, while Overture sells Ethernet over TDM and Ethernet over fiber platforms. “The new organization is primed to deliver carrier Ethernet customers an array of innovative fiber and copper solutions ranging from 1 Mbps to 10 Gbps for business services, mobile and DSLAM backhaul, and packet-based infrastructure. Seven of the top eight Ethernet service providers in the U.S. and numerous large service providers across Europe, CALA, and the Asia-Pacific region currently deploy these solutions,” the company said in a prepared statement. Customers include AT&T Inc., Verizon Communications Inc. and XO Communications Inc. While Overture has strong relationships in North America, Hatteras also has customers in Europe and Asia Pacific.
The companies are privately held. The merger is expected to close in the next few weeks,.