(MENAFN- GlobeNewsWire – Nasdaq) DZS emerges as Broadband Networking, AI-Driven Software pure play focused on Americas and EMEA, eliminates approximately $43 million of debt
DALLAS, April 05, 2024 (GLOBE NEWSWIRE) — DZS (Nasdaq: DZSI), a global leader of broadband networking and AI-driven cloud software solutions, today announced it has completed the divesture of its Asia business to DASAN Networks, Inc. (DNI), enabling the company to focus its go-to-market strategy, technology and innovation on the Americas, Europe, Middle East and Africa (AEMEA), and Australia/New Zealand (ANZ) regions. The transaction eliminates ~$43 million of debt, reducing the total long-term debt to $15 million.
On Jan. 5, 2024, DZS signed a definitive agreement to sell its Asia operations to DNI, for $48 million (including the elimination of $43 million in debt). In…
