RESEARCH TRIANGLE PARK, NC, March 8, 2011 – Overture Networks, the industry’s trusted Carrier Ethernet solutions provider, today announced the latest quarterly “Carrier Ethernet Access Platforms” (CEAP) tracker published by respected industry analyst firm, Heavy Reading, again highlights the market dominance established by both Overture and its recent merger partner, Hatteras Networks. Repeatedly recognized as top solutions providers in their respective segments, the newly united pair creates a new CEAP global market leader in Ethernet edge and aggregation platforms.
According to the report, the global Carrier Ethernet access platform (CEAP) market grew 38 percent, from US$1.06 billion in 2009 to $1.46 billion in 2010. Driven by Ethernet business connectivity, mobile backhaul, DSLAM backhaul and other applications, the CEAP market has achieved growth in six of the last seven calendar quarters. As noted in the tracker, Overture achieved the industry’s most significant growth and expansion in Ethernet over TDM, while Hatteras steadfastly continued in its role as an Ethernet over Bonded Copper market leader.
Both companies, which announced the signing of their definitive agreement to merge on March 1, 2011 and will operate as Overture Networks after the deal closes, have enjoyed strong worldwide sales of their complementary award-winning Carrier Ethernet product lines. Numerous top-tier service providers currently deploy Overture and Hatteras solutions across North America, Europe, Central and Latin America, and the Asia-Pacific regions. The merger solidifies the new Overture’s position as the market frontrunner, while expanding its product portfolio and global footprint.
"The combination of Overture and Hatteras is a good strategic move and positions the new company well to their carrier customers. The merger makes a lot of sense from a portfolio, customer mix, and geographic market penetration point of view," said Stan Hubbard, senior analyst, Heavy Reading. "In the Ethernet-over-TDM access circuit segment, Overture holds a commanding lead, while Hatteras remains a compelling force in Ethernet-over-bonded copper pairs. When the estimated 2010 revenues of both Overture and Hatteras are combined, the new Overture emerges as the number one overall CEAP supplier in what has become a highly dynamic marketplace."
“Our parallel track records of success speak for themselves, however, the recognition of Overture and Hatteras as the industry’s two preeminent Carrier Ethernet solutions providers is a prelude to what we expect to accomplish moving forward as a single, unified organization,” said Jeff Reedy, chief executive officer (CEO), Overture Networks. “We are thrilled that our hard work, unparalleled commitment to our customers, and unfailing dedication to excellence have again put us at the top of the market.”
“Being consistently recognized in Heavy Reading’s CEAP tracker as market leaders is an important confirmation of our best-in-class products, forward-looking technologies, and world-class support,” added Kevin Sheehan, president of Overture Networks and former CEO, Hatteras Networks. “We are confident that our customers, partners, and the market at large will continue to appreciate the innovation, reliability, and value that have become the hallmarks of both Overture and Hatteras.”
For more information about Heavy Reading’s quarterly CEAP tracker, please visit http://www.heavyreading.com. For more information about the Overture-Hatteras merger please visit http://www.overturenetworks.com.
About Overture Networks
Overture Networks is the preferred Carrier Ethernet edge and aggregation partner to more than 250 service providers and enterprise customers in 34 countries worldwide. Its innovative solutions have proven to be integral to a service provider’s ability to fully leverage Carrier Ethernet to multiply service revenues and streamline operational costs. Headquartered in Research Triangle Park, NC, with a technology center in Richardson, TX, Overture Networks is relentlessly focused on providing solutions at the ever-expanding edge of the network. With its patent-protected, award-winning family of products for both business services and cell site backhaul, Overture Networks uniquely combines the packet-switched and circuit-switched worlds into a single architecture—at cost points that make it extremely attractive to offer Carrier Ethernet services to any size location—over optical fiber or copper transport. For more information, visit http://www.overturenetworks.com.
About Hatteras Networks
Hatteras Networks is redefining the way carriers think about Ethernet services. Hatteras Networks’ Carrier Ethernet service delivery solutions are leading service providers worldwide to a significant expansion of the Metro Ethernet market, which had previously been limited by legacy technologies in the access network. Now service providers are empowered to cost- effectively offer high-capacity Ethernet services over existing facilities, enabling businesses to migrate from legacy networks to transparent Ethernet services for voice and data business connectivity, infrastructure backhaul and mobile wireless backhaul solutions via copper and fiber. For more information, please visit www.hatterasnetworks.com.