Hermon Laboratories Enters into Agreement to Buy Ribbon's QualiTech Testing and Standardization Business
Agreement allows Hermon Laboratories to continue to provide testing and standardization services to Ribbon, while enabling Ribbon to focus on core strategic business
WESTFORD, Mass., Feb. 16, 2021 /CNW/ -- Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications software and IP optical transport solutions to service providers, enterprises, and critical infrastructure sectors, today announced that the company has entered into an Asset Purchase Agreement under which Hermon Laboratories, a leading provider of testing, measurement and certification services, will acquire the testing and standardization business conducted by Ribbon's QualiTech division. QualiTech operates as an independent division of former ECI Telecom (now part of Ribbon), providing high-quality testing and standardization laboratory services supporting both the company's product development activities and external customers. Under the agreement, Hermon Laboratories will continue to provide testing and standardization services to Ribbon anchored by the strong team of QualiTech employees, who are expected to transfer to Hermon Laboratories.
"The sale of the QualiTech business aligns with our strategy of increasing our focus on our core IP Optical Networks and Cloud and Edge businesses," said Bruce McClelland, President and CEO of Ribbon. "The agreement allows Ribbon to maintain the high level of testing and standardization services provided by the same dedicated professionals that have been delivering these services for years. They will simply be transferring to the Hermon Laboratories team."
"This transaction allows Hermon Laboratories to broaden our services, both in content and geographically, and add to our roster a world-class team of testing and standardization professionals," said Alex Usoskin, Chairman of the Board at Hermon Laboratories. "In addition to adding these new capabilities to our offerings, we look forward to continuing to support Ribbon as they build their global IP Optical Networks and Cloud and Edge businesses."
The transaction is subject to closing conditions including approval of the Israeli Competition Commissioner and other customary closing conditions. Closing is currently expected during the second quarter of 2021.
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SOURCE Ribbon Communications Inc.
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