June 8, 2000 |
Lest it seem that executives from chip makers Broadcom Corp. and Conexant Systems Inc. are the only wealthy techies in Orange County with an interest in education, PairGain Technologies Inc.'s Chairman Charles S. Strauch and his wife, Nan, have pledged $2 million to Landmark College in Putney, Vt. PairGain, located in Tustin, designs and manufactures networking systems for digital subscriber lines.
June 6, 2000 |
PairGain Technologies Inc. said Monday it signed a deal with a distributor to sell its Avidia networking system through Riodata, which provides high-speed Internet services to European companies. The Tustin telecommunications company said the five-year agreement with PanDacom GmbH, a PairGain Distributor, is valued at up to $100 million.
May 24, 2000 |
Shareholders of PairGain Technologies Inc. are scheduled to vote June 26 on ADC Telecommunications Inc.'s proposed $1.51-billion acquisition of the Tustin manufacturer of telecommunications equipment. Minneapolis-based ADC agreed in February to acquire PairGain in an all-stock deal. ADC develops software and hardware systems used by telephone companies and cable TV operators.
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.
April 14, 2000
The Tustin manufacturer of networking systems reported first-quarter net income of $189.4 million, or $2.46 a share, which included a gain of $328.6 million from the sale of its microelectronics group. Without the gain and certain nonrecurring expenses, the company had an operating loss of $15.9 million. In last year's first three months, the company earned $4.2 million, or 6 cents a share. Quarterly revenue slipped slightly to $60.7 million from $60.9 million.
March 3, 2000 |
PairGain Technologies Inc. in Tustin said it agreed to acquire the optical products unit of ABL Canada Inc. for $10.4 million in cash. The deal is expected to be wrapped up this month, according to PairGain, a telecommunications equipment maker that is being acquired by Minneapolis rival ADC Telecommunications Inc. PairGain expects all 15 employees of the optical products unit to join the company. ABL Canada in Montreal provides video systems and services.