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NAYNA Networks auf Expansionskurs - Abundance Networks geschluckt !!

NAYNA Networks
Frankfurt: A0EADA
New York: NAYN

NAYN -- Nayna Networks, Inc.
Com ($0.0001)

COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:

Nayna Networks Announces Its Intention to Acquire Abundance Networks


Will Establish a Presence in Growing India Telecom Market

SANTA CLARA, Calif., Nov 09, 2005 /PRNewswire-FirstCall via COMTEX/ -- Nayna Networks, Inc., (OTC Bulletin Board: NAYN), a provider of next generation network solutions headquartered in Santa Clara, today announced that it has entered into a letter of intent to acquire substantially all of the assets of privately-held Abundance Networks headquartered in Shelton, Connecticut, with regional sales and R&D offices in Mumbai, India, in exchange for shares of Nayna Common Stock. Abundance Networks is profitable and its acquisition is the latest step in Nayna`s expansion into high-growth markets.
As agreed by the companies, at the closing of the proposed acquisition Nayna intends to issue to Abundance 800,000 shares plus an additional number of shares equal to (i) $1,000,000 divided by (ii) the average of the closing prices of its common stock during the twenty consecutive trading days ending one day prior to the closing date. 450,000 of the shares to be issued at closing will be subject to price protection at a value of $2.00 per share with any adjustment to be made on the first anniversary of closing. In addition, 350,000 of the shares to be issued at closing will be held in escrow for fifteen months to satisfy any indemnification claims by Nayna. Abundance can earn up to an additional 1,750,000 shares based on the achievement of certain revenue and earnings based milestones through March 31, 2007. Any shares released from escrow to Abundance or issued to Abundance upon achievement of any earn out milestones will also be subject to price protection at a value of $2.00 per share with any adjustments to be made at the time of delivery of the shares to Abundance. Employees of Abundance will also be granted options to purchase up to 450,000 shares, which are also subject to price protection at a value of $2.00 per share. The transaction is subject to the successful completion of Nayna`s due diligence and the execution of definitive documents.

The Indian marketplace for broadband technology and services is thriving, making it one of the fastest growing telecom markets in the world with government analysts estimating it will grow from less than 3 million broadband subscribers to 20 million by 2007.

"Jointly this acquisition is a win-win situation for both companies," said Naveen Bisht, president and CEO, Nayna Networks. "With a shared vision for broadband networks plus expanded engineering and operations strength, the combined companies are better positioned to increase near term market share in the rapidly growing Indian telecom market."

Founded in 2002, Abundance is a recognized supplier of TDM/Ethernet over SONET/SDH optical Access solutions in India. The acquisition will provide Nayna an opportunity to sell its Fiber to The Premise (FTTP) ExpressSTREAM product lines into the Indian market and opens Nayna`s global sales channels to Abundance products.

"We are excited to be joining Nayna Networks. With their synergistic sales channels and robust product offering, Nayna Networks is a recognized supplier in delivering triple play broadband services to the customer," said Suresh Pillai, president and CEO of Abundance Networks. "Nayna`s FTTP solutions can help us reach the customer`s set-top-box and desktop level. Likewise, Abundance can expand Nayna further upstream into Wide Area Networking (WAN). The result is a strong, complete end-to-end broadband solution that is easy for service providers to provision and operate."

Abundance`s products meet or exceed the latest general requirements established by the Government of India and are approved for use in the India Telecom Network. Sales, Customer and Technical Support for India will be handled out of Abundance`s regional headquarters in Mumbai, India, where it employs nearly 50 people.

"From a customer point of view, Abundance Networks is known for technological leadership and commitment to customer service," said Gautam Chanda, vice president, business development, Nayna Networks. "Abundance already has a strong telecom customer base in India and is well positioned to open the marketplace for Nayna. Together we hope to capitalize on what is expected to be one of the largest broadband markets for VoIP, Internet, TDM and streaming video applications in India."

About Abundance Networks

Abundance Networks delivers next generation integrated access managed TDM/Ethernet over SONET/SDH optical solutions for the metro edge network.

About Nayna Networks, Inc.

Nayna Networks, Inc., delivers next generation network solutions. More information is available at http://www.nayna.com/" target="_blank" rel="nofollow ugc noopener">http://www.nayna.com/

In addition, all shareholders and interested parties are invited to sign into our private Corporate Guest Book at http://www.CorporateGuestBook.com/?NAYN to receive timely updates and information on future developments.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. For more information regarding Forward Looking Statements and related risks, see the "Risk Factors" section of Nayna`s filings with the SEC. The company undertakes no obligation to revise or update any forward-looking statements for any reason.

NOTE: All products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.



Contact Information

Nayna Networks, Inc.
Jim Connor, 408-956-8000, ext. 831
[e-mail]

SOURCE Nayna Networks, Inc.


CONTACT: Jim Connor of Nayna Networks, Inc., [phone], ext. 831, or [e-mail]

URL: http://www.prnewswire.com
http://www.nayna.com
www.prnewswire.com

[pharma71]

About Abundance Networks

Abundance Networks is an equipment supplier focused on development and roll-out of next generation, purpose-built customer located optical integrated access products for the fiber optic last-mile. `Brick and mortar` corporations everywhere are struggling to rapidly evolve into the Internet-enabled Networked Enterprise. This will require reliable bandwidth - lots of it, and when they need it!Abundance Networks mission has been to

- Develop equipment to allow simple and economical scaling of enterprise networks to accommodate Internet and IP VPN related traffic growth while also fully supporting today’s TDM based services (‘old world’ to ‘new world’ migration).

- Improve the Service Provider`s business case for deploying fiber optic based transport in metro, suburban and campus environments by reducing the cost and complexity while improving the capabilities of optical terminal equipment.

Abundance Networks is a different kind of start-up equipment supplier. Abundance Networks is currently a division of OSS Corporation, which since 1992 has been providing contract based product development expertise to telecommunications and networking equipment suppliers and global systems integrators. Abundance Networks’ products fully benefit from OSS’ world-class engineering expertise.

[pharma71]

Nach Seitwärtsbewegung in den letzten Tagen ist das der richtige Treibsatz um den Kurs deutlich über 1 € zu katapultieren. !!

Das Beste: Die News kamen grade erst raus, die Amis konnten noch nicht reagieren. !!

[Kaufmonster]

Morgen nicht mehr unter einem Euro zu haben