DZS Completes Divestiture of Asia Business
DZS Inc. (DZSI)
Last dzs inc. earnings: 3/5 04:02 pm
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Source: GlobeNewswire
DALLAS, April 05, 2024 (GLOBE NEWSWIRE) -- DZS (Nasdaq: DZSI), a global leader of broadband networking and AI-driven cloud software solutions, today announced it has completed the divesture of its Asia business to DASAN Networks, Inc. (DNI), enabling the company to focus its go-to-market strategy, technology and innovation on the Americas, Europe, Middle East and Africa (AEMEA), and Australia/New Zealand (ANZ) regions. The transaction eliminates ~$43 million of debt, reducing the total long-term debt to $15 million. On Jan. 5, 2024, DZS signed a definitive agreement to sell its Asia operations to DNI, for $48 million (including the elimination of $43 million in debt). In addition to focusing on growth regions spanning the Americas, EMEA and ANZ, the divestiture aligns with the vision, strategy and growth pillars DZS has been pursuing for the past three years, specifically: Fiber broadband investment cycle fueled by over $100 billion in government stimulus fundsGrowth spanning Nort
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DZSI
Earnings
- 5/8/23 - Beat
DZSI
Sec Filings
- 4/24/24 - Form 8-K
- 4/22/24 - Form 8-K
- 4/19/24 - Form 4
- DZSI's page on the SEC website