[May 8, 2003]

Tekelec, Santera Systems Combine Next-Generation Switching Businesses

Tekelec and Santera Systems announced that they have signed a definitive agreement to combine their next-generation switching businesses to better address the needs of telecommunications service providers. The business, which includes investments of cash and strategic assets from both companies, will be a majority owned subsidiary of Tekelec and will be called Santera, a Tekelec company.

The transaction creates a switching solutions center of excellence for Tekelec in Plano, Texas, Santera Systems' current headquarters. The switching solutions center will complement Tekelec's existing signaling solutions center of excellence in Research Triangle Park, North Carolina.

"The combination of Tekelec and Santera Systems leverages the strengths of the two companies' current packet telephony resources and positions the new subsidiary with the intellectual and technological assets to take advantage of evolving market opportunities," said Fred Lax, President and CEO of Tekelec. "Our combined next-generation switching unit will have the product portfolio, operational expertise, global reach and financial strength to position ourselves to be a preferred switching solution provider for service providers worldwide."

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