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BUSINESS
June 27, 2000 | Dow Jones
Shareholders of PairGain Technologies Inc. on Monday approved ADC Telecommunications Inc.'s acquisition of the Tustin manufacturer of telecommunications equipment in a $1.51-billion stock swap. Stocks of both companies set 52-week highs in Nasdaq trading after the announcement. PairGain shares hit $38 before settling back to close at $36.38, up $2.56. ADC's stock rose $6.19 to $85. The transaction is scheduled to be completed by the end of the week.
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BUSINESS
March 29, 2001 | YUKARI IWATANI, REUTERS
ADC Telecommunications Inc. said Wednesday that it plans to cut 3,000 to 4,000 more jobs and expects to report a loss for its second quarter, reversing its previous profit forecast, citing a slowdown in customer spending. The telecommunications equipment maker already has eliminated about 3,000 jobs in fiscal 2001. The two reductions comprise about 25% to 30% of ADC's work force at the beginning of its fiscal year.
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BUSINESS
May 6, 2000 | Bloomberg News
ADC Telecommunications Inc. said it agreed to buy two Scandinavian fiber-optic parts companies for $1.04 billion in stock and cash to boost its components business. The news sent ADC's shares up $5.88, or 10%, to close at $63.13 on Nasdaq. Minneapolis-based ADC, which also makes equipment used to link telephone networks, agreed to pay $961.2 million for Altitun of Sweden and $80 million for Ibsen of Denmark.
BUSINESS
January 20, 2001 | Bloomberg News
ADC Telecommunications Inc. cut its 2001 profit outlook in half, less than two months after saying it would meet forecasts, sending the phone-equipment maker's shares down as much as 30%. Sales and per-share profit will rise 15% this fiscal year, down from the previous forecast of 25% to 30%, ADC said. The Minnetonka, Minn.-based company said it will miss analysts' earnings estimates for the first quarter and may fire more employees to reduce expenses.
BUSINESS
May 9, 2000
A Minneapolis company's proposed acquisition of Tustin-based telecommunications equipment manufacturer PairGain Technologies Inc. has cleared a federal regulatory hurdle, PairGain said Monday. The proposed acquisition by rival ADC Telecommunications Inc. has cleared a waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act. The deal, valued at $1.6 billion in stock at the time it was announced in February, is expected to be wrapped up July 31.
BUSINESS
November 15, 1996 | Times Staff and Wire Reports
ADC Telecommunications Inc. said it will pay $23 million in cash to acquire the wireless infrastructure equipment group of Pacific Communications Sciences Inc., a unit of Cirrus Logic Inc. unit. The business to be acquired produces base station equipment for wireless communications providers such as AT&T Wireless Services Inc.
BUSINESS
May 19, 2000 | Bloomberg News
ADC Telecommunications Inc. reported fiscal second-quarter profit that more than doubled and boosted its earnings estimates for the full year. The company also said that Chief Executive William Cadogan will retire by the end of next year and a search has begun for a successor. ADC, whose equipment eliminates bottlenecks in phone networks, said profit surged to $93.7 million, or 29 cents a share, in the latest quarter, from $45.3 million, or 15 cents, a year ago, as sales climbed 55% to $709.
BUSINESS
January 20, 2001 | Bloomberg News
ADC Telecommunications Inc. cut its 2001 profit outlook in half, less than two months after saying it would meet forecasts, sending the phone-equipment maker's shares down as much as 30%. Sales and per-share profit will rise 15% this fiscal year, down from the previous forecast of 25% to 30%, ADC said. The Minnetonka, Minn.-based company said it will miss analysts' earnings estimates for the first quarter and may fire more employees to reduce expenses.
BUSINESS
September 21, 2000 | Reuters
ADC Telecommunications Inc., a maker of telephone equipment, said it will buy Broadband Access Systems, a start-up developer of high-speed data and voice delivery systems, for stock valued at $2.25 billion. ADC said the acquisition of privately held Broadband Access would ready it for a surge in demand for high-speed Internet access services over cable television and digital subscriber line networks. DSL services allow high-speed Web access over copper phone lines.
BUSINESS
June 29, 2000 | Times Staff and Wire Reports
ADC Telecommunications Inc. completed its acquisition Wednesday of PairGain Technologies Inc., the Tustin-based pioneer of high-speed communications devices that became mired in scandal and disappointing financial results in recent years. PairGain's operations are scheduled to remain in Tustin, but the company's name is being dropped. The stock last traded Tuesday on Nasdaq, closing at $34.19, down $2.19.
BUSINESS
September 21, 2000 | Reuters
ADC Telecommunications Inc., a maker of telephone equipment, said it will buy Broadband Access Systems, a start-up developer of high-speed data and voice delivery systems, for stock valued at $2.25 billion. ADC said the acquisition of privately held Broadband Access would ready it for a surge in demand for high-speed Internet access services over cable television and digital subscriber line networks. DSL services allow high-speed Web access over copper phone lines.
BUSINESS
June 29, 2000 | Times Staff and Wire Reports
ADC Telecommunications Inc. completed its acquisition Wednesday of PairGain Technologies Inc., the Tustin-based pioneer of high-speed communications devices that became mired in scandal and disappointing financial results in recent years. PairGain's operations are scheduled to remain in Tustin, but the company's name is being dropped. The stock last traded Tuesday on Nasdaq, closing at $34.19, down $2.19.
BUSINESS
June 27, 2000 | Dow Jones
Shareholders of PairGain Technologies Inc. on Monday approved ADC Telecommunications Inc.'s acquisition of the Tustin manufacturer of telecommunications equipment in a $1.51-billion stock swap. Stocks of both companies set 52-week highs in Nasdaq trading after the announcement. PairGain shares hit $38 before settling back to close at $36.38, up $2.56. ADC's stock rose $6.19 to $85. The transaction is scheduled to be completed by the end of the week.
BUSINESS
May 19, 2000 | Bloomberg News
ADC Telecommunications Inc. reported fiscal second-quarter profit that more than doubled and boosted its earnings estimates for the full year. The company also said that Chief Executive William Cadogan will retire by the end of next year and a search has begun for a successor. ADC, whose equipment eliminates bottlenecks in phone networks, said profit surged to $93.7 million, or 29 cents a share, in the latest quarter, from $45.3 million, or 15 cents, a year ago, as sales climbed 55% to $709.
BUSINESS
May 9, 2000
A Minneapolis company's proposed acquisition of Tustin-based telecommunications equipment manufacturer PairGain Technologies Inc. has cleared a federal regulatory hurdle, PairGain said Monday. The proposed acquisition by rival ADC Telecommunications Inc. has cleared a waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act. The deal, valued at $1.6 billion in stock at the time it was announced in February, is expected to be wrapped up July 31.
BUSINESS
May 6, 2000 | Bloomberg News
ADC Telecommunications Inc. said it agreed to buy two Scandinavian fiber-optic parts companies for $1.04 billion in stock and cash to boost its components business. The news sent ADC's shares up $5.88, or 10%, to close at $63.13 on Nasdaq. Minneapolis-based ADC, which also makes equipment used to link telephone networks, agreed to pay $961.2 million for Altitun of Sweden and $80 million for Ibsen of Denmark.
BUSINESS
March 29, 2001 | YUKARI IWATANI, REUTERS
ADC Telecommunications Inc. said Wednesday that it plans to cut 3,000 to 4,000 more jobs and expects to report a loss for its second quarter, reversing its previous profit forecast, citing a slowdown in customer spending. The telecommunications equipment maker already has eliminated about 3,000 jobs in fiscal 2001. The two reductions comprise about 25% to 30% of ADC's work force at the beginning of its fiscal year.
NEWS
February 24, 2000 | P.J. HUFFSTUTTER and ROBIN FIELDS, TIMES STAFF WRITERS
PairGain Technologies Inc., a pioneer in high-speed Internet communications and one of Orange County's major public companies, will be bought by a Minneapolis rival for $1.6 billion in stock. The purchase by ADC Telecommunications Inc., announced Wednesday, is expected to trigger a round of mergers among digital network-equipment makers.
NEWS
February 24, 2000 | P.J. HUFFSTUTTER and ROBIN FIELDS, TIMES STAFF WRITERS
PairGain Technologies Inc., a pioneer in high-speed Internet communications and one of Orange County's major public companies, will be bought by a Minneapolis rival for $1.6 billion in stock. The purchase by ADC Telecommunications Inc., announced Wednesday, is expected to trigger a round of mergers among digital network-equipment makers.
BUSINESS
November 15, 1996 | Times Staff and Wire Reports
ADC Telecommunications Inc. said it will pay $23 million in cash to acquire the wireless infrastructure equipment group of Pacific Communications Sciences Inc., a unit of Cirrus Logic Inc. unit. The business to be acquired produces base station equipment for wireless communications providers such as AT&T Wireless Services Inc.
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